Wednesday, August 07. 2024

XBRL US Launches Public Review for Version 25 of DQC Rules, Solicits Feedback

The XBRL US Center for Data Quality has opened the Version 25 public exposure period for review and comment, which concludes on September 9, 2024. This version includes automated checks and rule updates for filers using the US GAAP and IFRS taxonomies from July 23, 2024, through September 9, 2024. Continue reading "XBRL US Launches Public Review for Version 25..." »
Posted by
LeAnn Dey
in Data Quality Committee, IFRS Taxonomy, US GAAP Taxonomy at 09:55

Wednesday, July 31. 2024

SEC Publishes Trend Analysis of Custom Tag Rates in IFRS XBRL Financial Data Submitted from 2021 to 2023

The SEC’s Division of Economic and Risk Analysis (DERA) recently analyzed the way filers use custom tags in IFRS XBRL submissions from 2021 to 2023. Continue reading "SEC Publishes Trend Analysis of Custom Tag..." »
Posted by
LeAnn Dey
in DERA, IFRS Taxonomy, SEC, XBRL at 15:50

Monday, July 08. 2024

SEC Issues EDGAR 24.2 Release XBRL Taxonomies Update

On July 1, 2024, the EDGAR system was upgraded to Release 24.2, which now accepts the Security-Based Swap (SBS) taxonomy and supports the 2024 version of the International Financial Reporting Standards (IFRS) taxonomy. Continue reading "SEC Issues EDGAR 24.2 Release XBRL Taxonomies..." »
Posted by
LeAnn Dey
in EDGAR News, GoFiler Updates, IASB News, IFRS Taxonomy, SEC, US GAAP Taxonomy, XBRL at 17:43

Thursday, June 20. 2024

XBRL US to Host Webinar on Preparing for Digital, Machine-Readable Climate Reporting and Its Impact on Business

XBRL US will host a webinar to discuss the new mandates set by regulators worldwide for climate reporting structures, which require digital, machine-readable, structured data format reporting of climate-related disclosures. These structures will affect public and private companies all over the globe with compliance dates as soon as 2026. The 90-minute webinar will take place on Tuesday, July 16, 2024 beginning at 1:00 p.m. EDT and is free for the public to attend. {expires: 2024-07-17} Continue reading "XBRL US to Host Webinar on Preparing for..." »
Posted by
LeAnn Dey
in Events, IFRS Taxonomy, SEC, XBRL at 17:01

Tuesday, March 19. 2024

SEC Issues 2024 XBRL Taxonomies Update

On March 18, 2024, the SEC upgraded the EDGAR system to Release 24.1. The system now supports the 2024 XBRL reporting taxonomies. The SEC does not anticipate the removal of the 2022 versions of any taxonomies to occur before June 2024. Continue reading "SEC Issues 2024 XBRL Taxonomies Update" »
Posted by
LeAnn Dey
in EDGAR News, FASB News, GoFiler Updates, IFRS Taxonomy, Novaworks News, SEC, US GAAP Taxonomy, XBRL at 13:47

Monday, June 26. 2023

SEC Issues June 2023 XBRL Taxonomies Update

On June 20th, the SEC updated the EDGAR system to Release 23.2, and the system now supports multiple new XBRL taxonomies, including the 2023 version of the International Financial Reporting Standards (IFRS) taxonomy, the Resource Extraction Payments (RXP) taxonomy, and the Open-End Fund (OEF) taxonomy. These taxonomies are now also supported in the GoFiler Suite. Continue reading "SEC Issues June 2023 XBRL Taxonomies Update" »
Posted by
LeAnn Dey
in EDGAR News, GoFiler Updates, IASB News, IFRS Taxonomy, SEC, US GAAP Taxonomy at 17:10

Tuesday, May 23. 2023

SEC Releases New Draft EDGAR Filer Manual for EDGAR 23.2

The SEC has released its draft of the EDGAR® Filer Manual, Volume II: “EDGAR Filing” (Version 66). This draft Volume II of the EDGAR Filer Manual is accessible to filers in anticipation of feedback and to help issuers prepare for potential updates to the EDGAR system detailed in the draft and scheduled to be introduced in EDGAR Release 23.2 on June 20, 2023. Continue reading "SEC Releases New Draft EDGAR Filer Manual for..." »
Posted by
LeAnn Dey
in EDGAR News, IFRS Taxonomy, Novaworks News, SEC, US GAAP Taxonomy, XBRL at 16:20

Thursday, March 23. 2023

SEC Issues 2023 XBRL Taxonomies Update

On March 20, 2023, the SEC upgraded the EDGAR system to Release 23.1. The system now supports the 2023 reporting taxonomies. The SEC does not anticipate the removal of the 2021 versions of any taxonomies to occur before June 2023. For more information and a complete list of supported standard taxonomies, visit the Standard Taxonomies webpage on sec.gov. Continue reading "SEC Issues 2023 XBRL Taxonomies Update" »
Posted by
LeAnn Dey
in EDGAR News, FASB News, GoFiler Updates, IFRS Taxonomy, SEC, US GAAP Taxonomy at 15:46

Monday, December 12. 2022

SEC Offers Guidance on Tagging Income Statements Over Multiple Periods

On December 8th, the SEC’s Division of Economic and Risk Analysis announced that it has concluded an assessment of how filers are tagging line items on the income statement over multiple periods. The staff noted that a number of filers are using different elements when tagging the same reported line item on the income statement over multiple periods, though each of those tags are included in the taxonomy versions used in the filings. The staff’s findings also determined that some filers were using one element in a form, for example, Form 10-Q, while using another element for the same reported line item in a different form, such as Form 10-K. Continue reading "SEC Offers Guidance on Tagging Income..." »
Posted by
LeAnn Dey
in IFRS Taxonomy, SEC, SEC Filing Help, US GAAP Taxonomy at 09:44

Monday, December 05. 2022

XBRL US Announces Webinar: DQC Rules for BDCs and Public Companies – Rule Set 20

The XBRL US Data Quality Committee (DQC) has announced that it published its 20th Rule Set, which is comprised of five proposed rules for corporate issuers and two proposed rules specific to business development companies (BDCs). DQC rules are freely accessible by US GAAP and IFRS issuers so they may better validate their filings and recognize potential errors. Referring to the DQC rules helps issuers prepare financial statements that are consistent and submitted to the SEC in high quality, Inline XBRL format. Continue reading "XBRL US Announces Webinar: DQC Rules for BDCs..." »
Posted by
LeAnn Dey
in Data Quality Committee, Events, IFRS Taxonomy, US GAAP Taxonomy, XBRL at 09:46

Friday, June 03. 2022

SEC Publishes Draft EDGAR Filer Manual (Volume II) EDGAR Filing (Version 62)

On May 20th, the SEC released its Draft of the EDGAR Filer Manual, Volume II: “EDGAR Filing” (Version 62). The SEC has not approved, may approve or disapprove, and may update any of the modifications within the draft. This draft Volume II of the EDGAR Filer Manual is made available to filers in anticipation of feedback and to help filers prepare for potential revisions to the EDGAR system detailed in the draft and scheduled to be implemented in EDGAR Release 22.2 on June 21, 2022. “Non-rule”-based modifications outlined in the draft will be effective June 21, 2022. For rule-based changes, refer to the effective dates of the associated final rule on sec.gov. Continue reading "SEC Publishes Draft EDGAR Filer Manual (Volume..." »
Posted by
LeAnn Dey
in EDGAR News, IFRS Taxonomy, SEC at 14:12

Thursday, May 26. 2022

SEC Announces Removal of 2020 Taxonomies

On May 24th, the SEC announced that the EDGAR system will be upgraded to Release 22.2 on June 21, 2022. 2020 versions of certain taxonomies will be removed, but all 2021 and 2022 versions of taxonomies will be available for use. The SEC reminds filers that they must use the same version year for all of the taxonomies in an EDGAR submission. Filers may not combine taxonomy versions from different years. Continue reading "SEC Announces Removal of 2020 Taxonomies" »
Posted by
LeAnn Dey
in EDGAR News, IFRS Taxonomy, SEC, US GAAP Taxonomy at 13:20

Friday, November 19. 2021

XBRL US to Host Webinar: DQC 17th Ruleset Public Review

XBRL US has announced that it will host a webinar on Thursday, December 2, at 1:00 p.m. ET to discuss the 17th Ruleset published by the Data Quality Committee (DQC) on November 15th. The rule set includes three new rules for US GAAP filers, two new rules for IFRS filers, and three rules for both US GAAP and IFRS filers. {expires: 2021-12-03} Continue reading "XBRL US to Host Webinar: DQC 17th Ruleset..." »
Posted by
LeAnn Dey
in Data Quality Committee, Events, Filing Technology, IFRS Taxonomy, US GAAP Taxonomy, XBRL at 15:05

XBRL US DQC Releases Ruleset 17

On November 15th, the XBRL US Center for Data Quality (DQC) announced the opening of the 17th public exposure period for review and comment on eight new automated checks, including modifications to rules for filers using the US GAAP or IFRS taxonomies. The DQC rulesets are intended to improve the accuracy and integrity of XBRL financial reports that use these taxonomies. {expires: 2022-01-01} Continue reading "XBRL US DQC Releases Ruleset 17" »
Posted by
LeAnn Dey
in Data Quality Committee, Filing Technology, IFRS Taxonomy, US GAAP Taxonomy, XBRL at 15:01

Tuesday, September 14. 2021

SEC Releases Trend of Custom Tag Rates in XBRL Submissions from Fiscal Years 2018 to 2020

Staff from the SEC’s Division of Economic and Risk Analysis (DERA) have published the trend of custom tag usage in XBRL submissions for financial reporting in accordance with International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (US GAAP) from fiscal years 2018 through 2020. When the standard XBRL taxonomy does not provide an appropriate element to tag the disclosure, the SEC’s rules allow filers to create custom tags. This modification accommodates special circumstances in a filer’s particular disclosure, but the SEC has recognized that using custom tags could potentially decrease the comparability of inter-company data. For this reason, the SEC’s rules specify the limited circumstances under which a filer is permitted to create custom tags. Continue reading "SEC Releases Trend of Custom Tag Rates in XBRL..." »
Posted by
The Novaworks Team
in DERA, IFRS Taxonomy, US GAAP Taxonomy at 14:20
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