Information on the data exchange standard required by the DATA Act has been published to provide technical glimpse into implementation. On May 9, 2014, President Obama signed into law the DATA Act. The DATA Act was passed unanimously by Congress (which included Senator Menendez's...
Interesting guest article posted today on Kevin LaCroix’s D&O DIARY written by Robert F. Carangelo, Paul A. Ferrillo and Andrew Cauchi of the Weil Gotshal law firm. The article takes a look at the US SEC’s recent focus on financial reporting and the use of new technologies to detect...
Great article today in the Wall Street Journal CFO Blog on the use of the open, freely available, global XBRL data standard by the US SEC for more transparent and accountability in the capital markets. XBRL protects investors and helps companies tell their story to Wall Street by making...
The nominee said he was looking forward to the implementation of the Digital Accountability and Transparency Act, an open government law passed in 2014 requiring agencies to publish financial information in a standardized format to the USASpending.gov website
Great article in NEXTGOV regarding the status of the DATA ACT. According to today’s article -- late last week - US Treasury issued a final version of the "schema," outlining definitions, time frames and standards for data sharing across government agencies. The DATA ACT requires the use of...
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We're pleased to announce that Treasury & OMB have selected XBRL late last week as the common data standard that will be used to exchange government financial information as described in this news article . On March 7, 2015 – We posted that in early May the US Treasury and the Office...
More on the Digital Accountability and Transparency Act (DATA ACT) Implementation… The DATA Act, is an open government law that tasks US government agencies with unifying financial reporting in public, standardized, machine-readable format on the USASpending.gov website
Great article on Blockchain technology, cloud shared public ledgers and how it can be used for state, local and federal government to provide new services to the public. Premise: Blockchain technology can be applied using distributed public record technology that can be directed to a wide...
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...