GREAT Act Passed by US Congress
On Monday the US Congress passed the GREAT or “Grant Reporting Efficiency and Agreements Transparency” Act, previously agreed by the Senate.
Items tagged with "US"
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US Federal Regulators Accept Alternative Data
Five US Federal financial regulatory agencies have issued a joint statement outlining their thoughts on the use of alternative data in underwriting and credit analysis by banks, credit unions and financial firms. The statement, issued by the Federal Reserve Board (Federal Reserve), the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the […]
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Dimensions Highlights SEC Use of Big Data
Toppan Merrill’s November and December issue of Dimensions includes an explanation from the SEC’s Division of Economic Risk and Analysis (DERA) chief economist S.P. Kothari of the SEC’s current and expanding use of big data. As we highlighted back in August, XBRL helps turn big data into useful information. Making data machine-readable, or, in Kothari’s words, “dramatically […]
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XBRL US Investor Forum Talks Available
Recordings of the XBRL US Investor Forum on Driving Actionable Analytics are now available online. The forum, held earlier this month in New York, provided practical information on how data standards are disrupting the information ecosystem, how modern data can be leveraged, and what comes next. Beginning with a keynote speech from FASB Chairman Russell […]
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DQC Publish 11th Ruleset
This week the Data Quality Committee (DQC) published its 11th Ruleset for a 45-day public exposure period, set to end January 3, 2020.
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XBRL US Comments on Modernisation of S-K
XBRL US has submitted a comment letter strongly recommending that the SEC adopts financial data standards for information affected by the Modernization of Regulation S-K proposals. As previously reported, the SEC recently submitted a proposal to amend regulation S-K, including various changes to disclosure requirements designed to improve the readability of disclosures, discourage repetition and discourage […]
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SEC Propose Structured Data for Fee Calculations
On Friday 24 October the US Securities and Exchange Commission (SEC) published a new rule proposal aiming to ensure all required information for fee calculation is in structured format using Inline XBRL. The proposal would amend fee bearing forms, schedules and statements so that the fee table and explanatory footnotes for the fee table are […]
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Who Comes Out on Top? California’s Cities Ranked for Fiscal Responsibility
A new financial health dashboard tool launched by the California State Auditor allows the public to compare the finances of 471 cities within California. The hope is that this dashboard can help provide the kind of oversight needed to identify cities at risk of filing for bankruptcy or defaulting on municipal bonds. The dashboard found […]
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Data Amplified 2019: Governance of Reporting
John Turner, XBRL International CEO and Robert Tarola, Chair of the XBRL International Board of Directors, kicked off Wednesday morning at Data Amplified with an interesting discussion on the changing requirements for financial reporting governance in a digital reporting ecosystem. Tarola, who has an extensive background in audit, CFO, and board of director roles, demonstrated […]
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FASB Roundtable on Goodwill
More news on accounting for goodwill this week as the US’s Financial Accounting Standards Board (FASB) announced it will be hosting a public roundtable discussion to gather views on its recent Invitation to Comment (ITC) on Identifiable Intangible Assets and Subsequent Accounting for Goodwill. The roundtable will be held on 15 November 2019 and give […]
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