The XBRL US Data Quality Committee (DQC) recently approved nine new validation rules, following public review and comment. This latest instalment of the Committee’s valuable ongoing work takes the total number of freely available DQC-approved rules to 83, applying to many hundreds of reporting concepts.
Just last week we posted on rounding of figures in reports, and how it can cause validation processes to flag calculation inconsistencies that – while they should be checked – should not be a cause for concern, since there is (generally) no underlying error.
Not all issues flagged by XBRL validation processes indicate a problem in the report. We revisit calculation inconsistencies to see how they can be caused by simple rounding of figures.
This is an addition to our series on common errors and pitfalls in ESEF filings, observed through analysis of hundreds of reports collected in our repository, at filings.xbrl.org. For the series introduction, start here. Calculation inconsistencies are common occurrences noted in our ‘ESEF Errors and Common Pitfalls’ blog series. They occur when facts in a report […]
The European Banking Authority (EBA) has published its regular updated list of validation rules included in its Implementing Technical Standards (ITS) on supervisory reporting, highlighting those that have been deactivated either for incorrectness or for triggering IT problems.
In the United States, the Financial Accounting Standards Board (FASB) has published its proposed DQC Rules Taxonomy (DQCRT) and Technical Guide for 2022, including a number of new rules. It is now available for public review and comment until 23 September 2021.
The European Banking Authority (EBA) has issued a revised list of the validation rules included in its Implementing Technical Standards (ITS) on supervisory reporting.
As we reported in March, filers to the US Securities and Exchange Commission (SEC) must now follow a number of rules from the XBRL US Data Quality Committee (DQC).
Our (many!) readers concerned with data quality, and the processes involved in validation, may be interested in a new blog series on validity in XBRL from CoreFiling, from Executive Chairman Philip Allen.