Broader and deeper use of structured data
Did you catch November’s excellent keynote speech from Commissioner Caroline Crenshaw of the US Securities and Exchange Commission (SEC) at the XBRL US Investor Forum 2021: Data that Delivers? If not, now is a great time to catch up on her insights on the benefits of structured data. In a recent post, Mohini Singh, ACA, who is Director of Financial Reporting Policy at CFA Institute and Treasurer of the XBRL International Board of Directors, revisits the speech and how it chimes with the views of the CFA Institute.
“Structured reporting is most effective when it is applied broadly to all aspects of reporting—that is, to earnings releases and all regulatory filings, proxy statements, and tax reporting. And structuring needs to apply to all companies, big and small. Furthermore, regulators need to require structured reporting beyond just the financial statements,” she concludes. “Broader and deeper use of structured data across all reports in their entirety would bring about untold efficiencies and transparency for all users.”
Hear, hear!
Read more here.
