The Project on Government Oversight (POGO) has addressed the importance of machine-readable disclosures as part of its series of 13 recommendations to increase US government accountability.
The US Financial Accounting Foundation (FAF) recently announced that the free viewer for the online version of its standards will be getting an upgrade to improve access for stakeholders.
While the general direction of most major jurisdictions is towards improving, increasing, and mandating sustainability reporting, not everyone agrees that more needs to be done to support environmental, social and governance (ESG) disclosure.
This week the US Securities and Exchange Commission (SEC) posted the updated EDGAR Filer Manual to the Federal Register. EDGAR provides guidance for filers in the US, helping ensure that electronic filings are made accurately.
How will the Financial Data Transparency Act (FDTA) reshape municipal financial reporting in the US? The FDTA will require electronic reporting and machine-readable tagging (likely in XBRL) of state and local government financial data, boosting the ability of users — especially lenders — to undertake analysis and comparison.
A recent article on Cities Today examines how local governments in the US can maximise federal funding by using (machine-readable) data. With the US government investing significantly in municipal infrastructure, local governments are leveraging data to understand their needs, and to make smarter decisions about how to spend funding.
Last week the US Securities and Exchange Commission (SEC) adopted the final rule on Insider Trading Arrangements and Related Disclosures. The rule introduces new disclosure requirements regarding insider trading policies and procedures, as well as making amendments to disclosure requirements for director and executive compensation.
The Financial Accounting Standards Board (FASB) published the final 2023 GAAP Financial Reporting Taxonomy (GRT) and 2023 SEC Reporting Taxonomy (SRT), pending acceptance by the Securities and Exchange Commission (SEC). FASB has also released the 2023 DQC Rules Taxonomy, the Data Quality Committee (DQC)’s validation rules, now published alongside the GAAP Taxonomy.
We are pleased to report that this week the US Senate passed the provisions of the Financial Data Transparency Act (FDTA), as part of the Fiscal Year 2023 National Defense Authorization Act (NDAA), marking a significant milestone in transparency and data utility for the US.
The US Securities and Exchange Commission (SEC) has published the latest version of its Interactive Data Test Suite.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
