The XBRL US Data Quality Committee (DQC) will host a webinar to discuss the recently published 15th Ruleset, which is comprised of nine rules specific to US GAAP filers and IFRS filers. The virtual event will take place on Wednesday, May 12, 2021, from 2:00 p.m. to 3:00 p.m. EDT. This event allows the DQC the opportunity to review the impact of the rules on data quality reported through the SEC program and to clarify the new draft rules. Proposed Ruleset 15 covers a range of potential error types and will warn filers of possible problems within thousands of filings. These rules are designed to identify errors which range from incorrect use of certain axes to problems in the consistency of facts reported over time. {expires: 2021-05-13}
A subset of DQC rules has been incorporated into the FASB’s US GAAP Financial Reporting Taxonomy, with more rules to be added in future taxonomy releases. The SEC’s March 2021 EDGAR Filer Manual (EFM) stated the following:
- EDGAR will support new data-quality enhancing checks added by FASB in the US GAAP 2021 taxonomy
- DQC Rules Taxonomy (DQCRT) was established through public review in cooperation with market participants through the XBRL US DQC
- EDGAR will inform filers of certain quality defects by issuing alerts
The webinar will explore the above topics and feature the following presenters:
- Ami Beers, CPA, CGMA, Senior Director, Assurance and Advisory Innovation — Public Accounting, American Institute of CPAs (AICPA)
- Joan Berg, Director of XBRL Services at Toppan Merrill, and Chair, XBRL US Data Quality Committee
- Campbell Pryde, President and CEO, XBRL US
The webcast is free to attend but registration is required. Visit XBRL US’ event webpage for registration instructions. Once registered, further event details will be sent with confirmation.
Sources:
Webinar: DQC 15th Ruleset Public Review & SEC/FASB Support for Rules (xbrl.us)
