On October 22, the staff of the Financial Accounting Standards Board (FASB) issued for public review and comment proposed improvements to the 2027 GAAP Financial Reporting Taxonomy (GRT) Reference Project and the related release notes. The release notes describe the assignment of reference roles, the review of reporting requirements conducted during the reference project, and the enhancements made to improve the usefulness of the GRT.
The SEC staff encourages filers, investors, analysts, software service providers, and other interested parties to participate in this public review and help further improve the process for creating and using XBRL-structured financial statements.
The public may submit feedback on the proposed taxonomy improvements through November 2, 2026. Comments should be submitted directly to the FASB via email to xbrled@fasb.org with File Reference Number 2027-2650 as the subject.
Sources:
FASB Issues Proposed Improvements for the 2027 GAAP Financial Reporting Taxonomy Reference Project (sec.gov)
Release Notes (fasb.org)
