Interesting story in FCW about the current implementation by the DATA Act by the US Federal Government… The DATA Act requires the use of the eXtensible Business Reporting Language (XBRL) data standard for the tagging of both business and financial data for better transparency and accountability
1 Comment - no search term matches found in comments.
” Additionally, Mulvaney suggested in his testimony that OMB could help clarify the White House budget by publishing it using the same standards laid out in the Data Act. 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. Last Congress, Mulvaney co-sponsored three bills —the Searchable Legislation Act, the Statutes at Large Modernization Act and the Establishing Digital Interactive Transparency Act -- that would similarly track legislative actions, but were not passed
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 the XBRL data standard supported by the IMA to improve transparency and accountability of financial and business information using a machine-readable format that can be imported into Excel Spreadsheets for comparison and better analysis
1 Comment - Great follow-up article from FWC on Treasury's action related to the DATA ACT and its significance: https://fcw.com/articles/2016/05/03/data-act-schema.aspx?
Great background article from Nextgov about the DATA ACT and the upcoming May 9, 2015 deadline that calls on the US Treasury and the Office of Management and Budget (OMB) to adopt a government-wide data standard for all federal spending information and moving this tagged data into an Open Data format Cloud platform for public consumption and analysis
1 Comment - I found a recent report card on Freedom of Information Act performance by some government agencies an interesting argument for more data transparency - one of the agencies in David's story is Health and Human Services, which unfortunately was awarded an "F" in how responsive it was to FOIA requests
Similar to the “Open Checkbook” program launched by the Ohio State Treasurer – the Data Act will create a new era of transparency for government spending using a common financial data format (XBRL). Under the DATA Act, federal agencies will have two years to start reporting their financial information in the XBRL data format
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)
The proposed rules, which would implement a requirement mandated by the Dodd-Frank Act, would provide greater transparency and allow shareholders to be better informed when they vote to elect directors and in connection with advisory votes on executive compensation
President Trump on January 14, 2019 signed into law the Foundations for Evidence-Based Policymaking (FEBP) Act ( H.R. 4174 , S. 2046 ), which includes the Open, Public, Electronic, and Necessary (OPEN) Government Data Act (Title II).
Attended the XBRL US - "Improving Financial Analysis Through Structured Data" Conference yesterday at Baruch College. Excited to hear from Mike Willis, Assistant Director, Office of Economics and Risk Analysis, US SEC speak about structured data (XBRL) and its use at the US SEC and former...
In April 2014, President Obama signed into law the Data Act that would use global standards like XBRL to enhance government financial transparency