The SEC has released draft 2020 updates to its taxonomies for public comment. The Commission encourages filers, investors, analysts, software service providers, and other interested parties to review proposed updates in an effort to continue to improve the process for creating and using XBRL structured financial statements.
When the public review period ends, the SEC will consider the feedback and the taxonomies will become subject to SEC approval; the availability of the draft 2020 updates to the SEC taxonomies does not indicate approval of any regulatory changes related to the EDGAR Filer Manual. The technical specifications for the EDGAR Filer Manual will reflect changes if and when the SEC approves them.
To submit a comment on the draft 2020 updates, send an email to StructuredData@sec.gov with the line “Draft 2020 SEC Taxonomies” as the subject of the email. Comments should be sent no later than November 8th, 2019. For a thorough review of the updates, download the complete Zip format archive from here, which contains taxonomy element documentation and references.
Sources:
DRAFT Taxonomy Files (www.sec.gov)
