On June 21th, the SEC updated the EDGAR system to Release 22.2. The system now supports the 2022 version of the International Financial Reporting Standards (IFRS) taxonomy and the 2022Q2 version of the Variable Insurance Product (VIP) taxonomy. The 2022 version of the IFRS taxonomy reflects the same taxonomy that the International Accounting Standards Board published on its website on March 24, 2022. The final 2022Q2 taxonomies’
Release Notes go into further detail on the changes between the 2022Q2 version and the 2022 version of the VIP taxonomy.
On May 24, 2022, the SEC announced that the 2020 versions of the following taxonomies will no longer be accepted in the EDGAR system:
- US Generally Accepted Accounting Principles (GAAP)
- International Financial Reporting Standards (IFRS)
- SEC Reporting Taxonomy (SRT)
- Countries (COUNTRY)
- Currencies (CURRENCY)
- Document and Entity Information (DEI)
- Exchanges (EXCH)
- North American Industry Classification System (NAICS)
- Risk/Return (RR)
- Standard Industrial Classification (SIC)
- State and Province (STPR)
The SEC recommends that companies use the most recent version of taxonomy releases for their XBRL filings to benefit from the most current tags related to new accounting standards and other updates.
For a complete list of supported standard taxonomies, and to download the 2022Q2 taxonomy, visit the Standard Taxonomies webpage on the SEC’s website.
Note that the latest version of the GoFiler family of products (5.15a) supports all of the above taxonomies, including the new CEF taxonomy. The VIP taxonomy is forthcoming. As always, we recommend you keep your software up to date to receive the latest changes from the SEC.
Sources:
June 2022 XBRL Taxonomies Update (sec.gov)
Standard Taxonomies (sec.gov)
