The XBRL US Center for Data Quality has released the eighth set of rules and is seeking comment during a public exposure period ending February 1, 2019. The Data Quality Committee rules aim to help filers limit mistakes and avoid data inconsistencies that can adversely affect analysis of reported financial information. This release includes rules for issuers using either the US-GAAP or IFRS taxonomies.
The rules in this release are as follows:
DQC-0079 (Extension Members)
This rule checks if the filer has used an extension member that has a known taxonomy member in the Country or State and Province taxonomies. The rule takes a standard list of known extension errors seen across historical filings and identifies the correct member to use.
DQC-0080 (Negative Values (IFRS only))
This rule tests if certain elements have negative values when they should represent positive concepts. Note that this rule is for filings that use the IFRS taxonomies only. Rule DQC-0015 is the equivalent rule for the US-GAAP taxonomies. The list of elements that cannot have a negative value is available at: http://xbrl.us/data-rule/dqc_0080/.
More information on the rules is available here. Comments can be submitted via the XBRL US website by February 1, 2019.
XBRL US will be hosting a webinar on January 16, 2019 at 3:00pm EDT that discusses these new rules. Register for free by visiting https://xbrl.us/events/20190116/.
Sources
XBRL US Data Quality Committee Approves 7th Ruleset (xbrl.us)
Public Exposure of Guidance & Validation Rules (xbrl.us)
