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XBRL US Data Quality Committee Solicits Input on 7th Ruleset and Guidance for SEC FilersThe XBRL US Data Quality Committee (DQC) has published its seventh set of Data Quality Rules for a public review and comment period to end September 10, 2018. DQC rules and guidance, which are freely available, are designed to be used by issuers to identify and correct errors in their SEC (News - Alert) filings. The DQC, which is funded through the Center for Data Quality, is responsible for developing guidance and validation rules that can prevent or detect inconsistencies or errors in XBRL data filed with the SEC, and focuses on data quality issues that adversely affect data analysis. Twelve new rules are included in the seventh ruleset, covering tagging under the new revenue recognition standard, and potential problem areas with tagging pension data. Rules and guidance developed by the DQC are free and publicly available. Issuers, vendors, analysts, and investors can test out the draft rules and provide comments related to the rules through the public review page: https://xbrl.us/data-quality/rules-guidance/public-review/. The DQC has scheduled a webinar on August 29 to review the rules and guidance for Ruleset 7. Register for this free, one-hour webinar: https://xbrl.us/events/20180829/. Final rules are freely available for both US issuers filing in US GAAP, and for foreign private issuers filing in IFRS. Issuers should use approved rules for all filings prior to SEC submission through one of these options:
About XBRL US XBRL US is the non-profit consortium for XBRL business reporting standards in the U.S. and represents the business information supply chain. Its mission is to support the implementation of business reporting standards through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace collaboration. XBRL US has developed taxonomies for U.S. GAAP, credit rating and mutual fund reporting under contract with the U.S. Securities and Exchange Commission and has developed industry-specific taxonomies for corporate actions, solar financing, and surety processing. http://xbrl.us Links:
Access the draft rules and guidance: https://xbrl.us/data-quality/rules-guidance/public-review/
View source version on businesswire.com: https://www.businesswire.com/news/home/20180820005513/en/ |
