Monday, February 17. 2020

Removal of Investment Schedule (INVEST) Taxonomies

The SEC Office of Structured Disclosure has announced that the 2012 and 2013 INVEST taxonomies will no longer be supported by EDGAR as of the EDGAR release currently scheduled for March 9, 2020. These taxonomies were intended for use in the voluntary filing program. The voluntary filing program has ended, so support for these taxonomies will be removed.


Currently, filers who are using these taxonomies receive validation warning messages from EDGAR. After the next scheduled release of EDGAR, these taxonomies will no longer be accepted.


Section 2.4 in the 2019 US GAAP financial reporting taxonomy release notes lists six elements that were added to the US GAAP taxonomy in 2019 that are comparable to certain commonly used INVEST taxonomies elements. If you are currently using any INVEST elements, you should review the 2019 US GAAP taxonomy to determine appropriate replacements for INVEST elements.


Questions on the removal of the INVEST taxonomies can be sent to StructuredData@sec.gov.


 


Sources:

Removal of Investment Schedule (INVEST) Taxonomies (www.sec.gov)


Posted by
The Novaworks Team
in EDGAR News, SEC, US GAAP Taxonomy at 16:01