On March 7, the Securities and Exchange Commission updated EDGAR to accept the US GAAP 2016 taxonomy among other new taxonomies. While this taxonomy should not be used for reports with a reporting period that ends before March 7, 2015, it’s a good idea to transition your SEC filings as soon as possible for reporting periods that end after March 7.

When the SEC moved their XBRL Viewer software to Python, the underlying architecture of the application changed significantly and now requires a bit more set up to get the software up and running. If you use GoFiler Complete or GoXBRL, our development team has integrated a script into our software to automatically install the XBRL Viewer for you. If you want to know how to install the XBRL Viewer on your own, read on.

The SEC has recently re-proposed Rule 13q-1 and an amendment to EDGAR Form SD to require the disclosure of payments made to governments by resource extraction issuers. Rule 13q-1 was previously adopted by the SEC in August of 2012 but was vacated by the U.S. District Court for the District of Columbia after being challenged by the American Petroleum Institute (“API”), the U.S. Chamber of Commerce, and two other industry groups. Recently, the U.S. District Court for the District of Massachusetts issued an order holding that the SEC unlawfully withheld agency action by not promulgating a final rule. Subsequently, the SEC filed an expedited schedule for promulgating the final rule, re-proposed Rule 13q-1 in SEC Release No 34-77620, and would vote on the adoption of a final rule in June 2016.