One of the most interesting developments of recent years for reporting nerds has been the adoption of XBRL by the US Federal Energy Regulatory Commission (FERC) for disclosures by energy utilities. In Q3 it completed its transition to XBRL, activating its new Forms portal and ceasing to accept submissions in the legacy Visual FoxPro system.
Our jurisdictions around the world continue to break new ground in a range of activities, including XBRL research, experimentation and implementation. We would like to highlight just three here – but we would also love to hear your news from wherever you are in the world!
A new pilot programme in Flint, Michigan will explore how the use of XBRL can improve transparency in fiscal reporting and lead to better governance, potentially averting crises in municipal finance.
The US Securities and Exchange Commission (SEC) has been consulting on its EDGAR Next modernisation programme. This relates to its Electronic Data Gathering, Analysis, and Retrieval system (EDGAR), proposing technical changes to how companies manage access and submit reports in order to make these processes more secure.
This year’s XBRL US Investor Forum has been and gone – and if you missed it live you can now catch up via video, even if not registered for the event.
The XBRL US Data Quality Committee (DQC) has published its 17th Ruleset. It provides eight new data-quality rules, including three that are specific to US GAAP filers, two for IFRS filers, and three which apply to both.
XBRL US has written in response to the US Environmental Protection Agency (EPA) Strategic Plan 2022-2026, focussing on how structured, digital data could contribute to the EPA’s key principle of transparency.
There’s more recommended reading from our colleagues at XBRL US this week, exploring the properties and benefits of successful data standards for regulators.
“The bottom line is that XBRL makes data more useful,” says SEC Commissioner Caroline Crenshaw
On 10 November, XBRL US held its online Investor Forum 2021: Data that Delivers, held in partnership with Baruch College’s Zicklin School of Business, CFA Institute and CFA Society New York.
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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.
