FASB ISSUES INVITATION TO COMMENT ON EFFICIENCY AND EFFECTIVENESS OF GAAP FINANCIAL REPORTING TAXONOMY
Monday, May 15, 2017 at 09:54AM
Charlie in Digital Financial Reporting

The FASB has issued an invitation to comment on the efficiency and effectiveness of the US GAAP XBRL Financial Reporting Taxonomy.

Norwalk, CT, May 10, 2017-The Financial Accounting Standards Board (FASB) staff today issued an Invitation to Comment (ITC) designed to allow it to assess the efficiency and effectiveness of the U.S. GAAP Financial Reporting Taxonomy (GAAP Taxonomy).

The ITC, U.S. GAAP Financial Reporting Taxonomy-Efficiency and Effectiveness Review, addresses potential improvements to the usability of the GAAP Taxonomy and to the processes that support taxonomy-related activities. It is intended to obtain feedback from stakeholders at an early stage in the Board's review of the GAAP Taxonomy. Interested parties are asked to provide input on the ITC by June 15, 2017.

Here is the press release.

Article originally appeared on Intelligent XBRL-based structured digital financial reporting using US GAAP and IFRS (http://xbrl.squarespace.com/).
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