On May 14th, the United States Government Accountability Office (GAO) released a new report to satisfy requirements detailed in the Financial Data Transparency Act (FDTA). The Act requires the GAO to evaluate the establishment of a Standard Business Reporting-type (SBR) program in the United States and to begin developing shared data standards among financial regulators. The standards are intended to reduce reporting burdens, improve data quality, and steer the United States toward a system similar to SBR used in other countries. Continue reading "GAO Issues Report on Standard Business..." »

On January 22nd, XBRL US published the blog, Modernizing XBRL, written by Scott Theis, President/CEO, Novaworks LLC, Chair, XBRL US Domain Steering Committee (DSC), Leader, XBRL Technical Advisory Committee for XBRL US (XTAC), and Member, XBRL Standards Board and Open Information Model (OIM) Working Group. Continue reading "XBRL US Publishes Guidance Focused on..." »

Be a part of GovFin 2025 this Wednesday, July 30, 2025 and Thursday, July 31, 2025! XBRL US, in conjunction with the University of Denver, will host a web conference via livestream to discuss how the Financial Data Transparency Act (FDTA) can facilitate the efficient rollout of digital reporting for municipal bond issuance and other disclosures with data submissions in a structured, machine-readable format. The event’s presentations will address how this will impact governments, municipal analysts and portfolio managers, data and analytics tool providers, and regulators. {expires: 2025-08-01} Continue reading "Registration Still Open for XBRL US’ Virtual..." »

On June 17th, the SEC published its semi-annual report to Congress regarding public and internal use of machine-readable data for corporate disclosures, in compliance with the Financial Data Transparency Act of 2022 (FDTA) signed into law on December 23, 2022. The FDTA requires the SEC to submit this report to both the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives every 180 days through December 23, 2029, when the provision requiring the report concludes. Continue reading "SEC Staff Issues Semi-Annual Report to Congress..." »

Join us at GovFin 2025! XBRL US, in conjunction with the University of Denver, will host a conference to discuss how the Financial Data Transparency Act (FDTA) can facilitate the efficient rollout of digital reporting for municipal bond issuance and other disclosures with data submissions in a structured, machine-readable format. The event’s presentations will address how this will impact governments, municipal analysts and portfolio managers, data and analytics tool providers, and regulators. Novaworks is a sponsor of this event, and our staff will be on hand to answer questions and provide information. Continue reading "XBRL US Opens Registration for GovFin " »

In December 2024, the SEC published its semi-annual report to Congress regarding public and internal use of machine-readable data for corporate disclosures, in compliance with the Financial Data Transparency Act of 2022 (FDTA) signed into law on December 23, 2022. The FDTA requires the SEC to submit this report to both the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives every 180 days through December 23, 2029, when the provision requiring the report concludes. Continue reading "SEC Staff Issues Semi-Annual Report to Congress..." »

Novaworks will host another free webinar geared toward investors, state and local governments and other market participants to explore the changes that are coming with the Financial Data Transparency Act (FDTA). There are several opportunities to attend this hour-long webinar with the next one being offered on Tuesday, September 3, 2024, at 3:00 p.m. ET. When registering, attendees simply choose the date and time that works best. Continue reading "Novaworks Offers Webinar: Exploring the Impact..." »

XBRL US has announced that KPMG will host a conference to discuss the importance of transparency regarding digital data reporting for climate, business, and government. Presenters also will address the impact of digital requirements introduced by the Financial Data Transparency Act (FDTA) and a number of climate rules under which reporting entities must be in compliance with digital data standards by preparing submissions in Inline XBRL, a structured, machine-readable format that meets these disclosure requirements. Continue reading "XBRL US Opens Registration for November..." »

On August 2nd, the SEC proposed joint data standards under the Financial Data Transparency Act of 2022 (FDTA) that would establish technical standards for data submitted to certain financial regulatory agencies, making financial data more accessible, uniform, and useful to the public. The joint data standards would make it easier for financial institutions to file reports across multiple agencies and help regulators carry out the SEC’s oversight functions with greater efficacy. Continue reading "Fact Sheet Available for Proposed Joint Data..." »

Novaworks will host a free webinar geared toward investors, state and local governments and other market participants to delve into the changes that are coming with the Financial Data Transparency Act (FDTA). This hour-long webinar will be offered on the first Tuesday of every month, beginning May 7th. When registering, attendees simply choose the date and time that works best. Continue reading "Novaworks Offers Webinar: Exploring the Impact..." »