The SEC released drafts of the 2024 updates to its reporting taxonomies on September 7th, including updates within the annual review and update process for all SEC taxonomies accepted in the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. The Draft 2024 Release Notes provide more information related to specific changes in the 2024 update.
The Draft Taxonomies are available for public review and comment. To enhance the process for creating and using structured filings, the SEC encourages filers, investors, analysts, software service providers, and other interested parties to review and provide feedback on the taxonomies via email to StructuredData@sec.gov using “Draft 2024 SEC Taxonomies” as the subject of the email. The public comment period will be open until November 10, 2023.
The availability of the draft 2024 update to the SEC taxonomies does not indicate SEC acceptance of any potential regulatory changes. The taxonomies will be subject to SEC approval when the public comment period has concluded and feedback has been considered. Please refer to the SEC’s EDGAR webpage for updated information on any SEC-approved changes related to the EDGAR Filer Manual. Any transition guidance will be available on the standard taxonomies page.
As always, the GoFiler Suite will be ready with support for the 2024 XBRL taxonomies once they are released in their final form. Check back here at the blog at novaworks.com for more information.