FASB is consulting on the XBRL US Data Quality Committee (DQC) Rules Taxonomy (DQCRT) and an accompanying technical guide. The DQCRT is used in connection with submission of filings to SEC and for public review as well. The comment period on the consultation ends on November 18, 2019. The DQCRT will be updated based on changes made to the taxonomy during, and after, the public comment period and before the formal SEC approval of the release of the 2020 taxonomy. A final version of DQCRT will be issued with the final taxonomy and will be included in the 2020 US GAAP Financial Reporting Technical Guide. The purpose of the accompanying technical guide is to provide technical details for the XBRL US DQCRT.
XBRL US DQC Rules are proposed to be included in the DQCRT with the taxonomy to improve exposure to and compliance with the DQCR rules. This initial implementation is limited to three rules. Over time, additional rules are likely to be included. The DQC rules are XBRL US published validation rules for XBRL filings with SEC. The DQCRT includes the DQC rules in a derivative form that identifies the concepts the rules apply to, with necessary information for software and human readers to understand the rule and the elements it applies to. The proposed DQCRT is built on the 2019 taxonomy because the 2020 taxonomy is not yet available for use. Therefore, all file and URI references in this document are to the 2019 taxonomy and a proposed “2019 DQCRT.” Both will be updated to 2020 at final release. The potential changes include additions for new elements as well as deletions for elements deprecated in the 2020 taxonomy.
The intended audience for this document is a technical user familiar with XBRL, other specifications, and modules of XBRL, XML Schema, XSLT stylesheets, and so forth. Business users may be interested in this document and it is written such that a business user familiar with the technologies (XBRL, XML Schema, XSLT, and so forth) will be comfortable with this document. The guidance to conform to SEC XBRL filing requirements is available in SEC EDGAR Filer Manual and other information provided on the SEC website.
- Notification (PDF)
- Proposed Update
- Proposed XBRL US Rules Taxonomy
- Proposed DQCRT (ZIP)
- Proposed Technical Guide (PDF)
Comment Due Date: November 18, 2019
Keywords: Americas, US, Banking, Insurance, Data Quality, DQCRT, XBRL, Taxonomy, Technical Guide, Reporting, SEC, FASB
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.
ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.
OSFI published the key findings of a study on third-party risk management.
FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.