Federal Computer Week published a great story on Congressman Mick Mulvaney (R-S.C.) confirmation hearings as the next OMB Director of the US Government. Congressman Mulvaney (Tea Party Leader in Congress) stressed the importance of getting accurate and useful data in order to inform his and...
State and cities would also use this same financial data format for improved data disclosure to enhance performance metrics and support open data efforts to protect taxpayer dollars
With the recent news that the European Securities and Markets Authority (ESMA) has published a feedback statement setting out the use of Inline XBRL as the digital format which public companies in the European Union (EU) must use to report their company information to investors worldwide from...
Congressman Darrell Issa (R-CA) will be introducing the Financial Transparency Act of 2015 that will mandate standards like XBRL across the capital markets and possible link to the Global Legal Entity Initiative (LEI). This announcement today, follows the announcement last week from the...
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This is really part of a global move by governments to make government information available to the public through “open data” initiatives. The DATA Act directs the Secretary of the Treasury (not later than three years after the enactment of this Act) to ensure that information on funds made available to or expended by a federal agency is posted online, in a searchable, downloadable format under this open data initiative that can be used by the public and other important stakeholders
Dear TSP Committee Members: Great speech last week from Richard Berner of the US Treasury Office of Financial Reporting at the Financial Regulation Summit: Data Transparency Transformation in Washington, DC on Tuesday, March 24, 2015. In his speech Richard Berner spoke about the need to...
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Great article from the European Securities Market Authority on what EU public companies must do using the new Inline XBRL Global Data Standard for Better Transparency & Accountability by putting financial and non-financial financial statement info in a machine-readable format. The USA...
Great article in Accounting Today by Daniel Hood (Editor) today about the accounting profession and its relationship to technology… From Accounting Today: T homson Reuters’ Jon Baron … roughly a third of them (accountants) are dooming themselves to extinction by not embracing change and...
Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting
Great article in Accounting Today about the status of XBRL adoption worldwide and its use to reduce business and regulatory reporting burdens (using Standard Business Reporting) and enhance analytics because tagged data is in a machine-readable structured format as discussed by John Turner,...