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
The Australian Prudential Regulation Authority (APRA) has published the findings of its latest climate risk self-assessment survey conducted across the banking, insurance, and superannuation industries.
The French Prudential Supervisory Authority (ACPR) published a notice related to the methods for calculating and publishing prudential ratios under the Capital Requirements Directive (CRD IV) and the minimum requirement for own funds and eligible liabilities (MREL).
The European Insurance and Occupational Pension Authority (EIOPA) published the risk dashboard based on Solvency II data and the final version of the application guidance on climate change materiality assessments and climate change scenarios in the Own Risk and Solvency Assessment (ORSA).
The European Banking Authority (EBA) and the European Central Bank (ECB) published their responses to the consultations of the International Sustainability Standards Board (ISSB) and the European Financial Reporting Advisory Group (EFRAG) on sustainability-related disclosure standards.
A Consultative Group on Risk Management (CGRM) at the Bank for International Settlements (BIS) published a report that examines incorporation of climate risks into the international reserve management framework.
The European Banking Authority (EBA) published the final guidelines on liquidity requirements exemption for investment firms, updated version of its 5.2 filing rules document for supervisory reporting, and Single Rulebook Question and Answer (Q&A) updates in July 2022.
The European Insurance and Occupational Pensions Authority (EIOPA) published Version 2.8.0 of the Solvency II data point model (DPM) and XBRL taxonomy.
The European Union published, in the Official Journal of the European Union, an opinion from the European Economic and Social Committee (EESC); the opinion is on the proposal for a regulation to amend the Capital Requirements Regulation (CRR).
HM Treasury published a draft statutory instrument titled “The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2022,” along with the related explanatory memorandum and impact assessment.
The Australian Prudential Regulation Authority (APRA) is seeking comments, until October 21, 2022, on the introduction of CPS 230, which is the new cross-industry prudential standard on operational risk management.