SEC Upgrades EDGAR System, No Longer Supports 2017 Taxonomy
SEC announced that the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system was upgraded to Release 19.2 and now supports the 2019 International Financial Reporting Standards (IFRS) taxonomy. The EDGAR system no longer supports the 2017 U.S. GAAP Financial Reporting Taxonomy, 2014 Document and Entity Information (DEI) Taxonomy, 2017 Exchanges (EXCH) Taxonomy, and 2016 Currencies (Currency) Taxonomy.
The 2019 IFRS taxonomy reflects the same taxonomy that the IASB made available on its website on March 27, 2019. SEC encourages companies to use the most recent version of taxonomy releases for their XBRL exhibits to take advantage of the most up-to-date tags related to new accounting standards and other improvements. On March 11, 2019, the EDGAR system was upgraded in Release 19.1 and now supports the 2019 U.S. GAAP, 2019 SEC Reporting, 2019 Currency, and 2019 EXCH taxonomies. The EDGAR system was also upgraded in Release 19.2 to support 2019 Document and Entity Information (DEI) taxonomy as a result of the SEC adopting amendments to modernize and simplify certain disclosure requirements in Regulation S-K. One of the amendments requires the information on the cover pages of Forms 10-K, 10-Q, 8-K, 20-F, and 40-F to be tagged in Inline XBRL, in accordance with the EDGAR Filer Manual.
Keywords: Americas, US, Banking, Securities, Accounting, EDGAR 19.2, XBRL, US GAAP, Taxonomy, DEI Taxonomy, Reporting, IFRS, FASB, SEC
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