User:Davidtauriello/sandbox

XBRL US is the non-profit national standards consortium for business reporting in the United States. It supports the implementation of XBRL business reporting standards by developing taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through education and marketplace collaboration. XBRL US developed the initial XBRL US GAAP Taxonomy under contract with the U.S. Securities and Exchange Commission (US SEC). That taxonomy is used today by thousands of public companies to comply with their US SEC financial statement reporting requirements. XBRL US also developed initial US SEC taxonomies for mutual funds and credit rating agencies, and has developed industry-led initiatives to create taxonomies for corporate actions events and surety work-in-process reports. XBRL US is the US jurisdiction of XBRL International – the global standards organization responsible for developing and maintaining the XBRL Standard and related specifications to improve business reporting for the public good. XBRL US members are data creators, intermediaries and consumers as well as accounting firms and software providers.

Contributions to financial data standards, transparency and interoperability
The US SEC initiated an XBRL Voluntary Filing Program in 2005 and subsequently required financial data to be submitted in XBRL format for all public companies in 2009, referencing XBRL US as the taxonomy developer in the final rule. Today, every public company reporting to the US SEC files their financial statements and the details in their footnotes in XBRL format. In 2016, the US SEC issued an exemptive order permitting companies to use the Inline XBRL specification to file their financials.

As part of the first phase of the US SEC initiative, XBRL US was contracted by the US SEC in March 2007, to develop the US GAAP Taxonomy for public company XBRL submissions to the US SEC's EDGAR database. The first US GAAP Taxonomy Release was accepted by the US SEC for use by public company accountants and external reporting managers in 2008 (https://xbrl.us/home/learn/us-taxonomies/). XBRL US produced the first revision to the XBRL US GAAP Taxonomy in 2009, and then ongoing maintenance and subsequent releases were transitioned to the Financial Accounting Standards Board where the annual taxonomy development continues to receive input from XBRL US.

In addition to US SEC taxonomy development and throughout its history, member expertise in XBRL technology along with domain knowledge in securities reporting, accounting, industry and government, comes together with staff expertise, to drive the initiatives of the organization.


 * In 2009, XBRL US joined forces with SWIFT and the Depository Trust & Clearing Corporation (DTC) to create a taxonomy based on the ISO20022 standard for corporate actions events. Corporate actions are events that may require an investor to take an action, for example stock splits, mergers, acquisitions and dividend announcements.
 * In 2015, XBRL US established the XBRL US Center for Data Quality (https://xbrl.us/data-quality/center/) to address public concern about the quality and usability of XBRL financial data filed with the US SEC. The Committee develops and publishes free business rules and guidance (https://xbrl.us/data-quality/rules-guidance/) that detect inconsistencies or errors in XBRL financial statement data.
 * In 2015, XBRL US initiated the development of a taxonomy for data collection in the surety underwriting process. (https://xbrl.us/home/learn/us-taxonomies/).