SEC accepts 2021 U.S. GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy

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Mar 23, 2021

On March 23, 2021, the Financial Accounting Standards Board (FASB) announced that the Securities and Exchange Commission (SEC) has accepted the 2021 GAAP Financial Reporting Taxonomy and the 2021 SEC Reporting Taxonomy.

The 2021 taxonomies reflect accounting standards updated during the past year as well as improvements related to two SEC final rules and other enhancements. In addition, the FASB has finalized the 2021 DQC Rules Taxonomy.

Review the press release on the FASB's website.

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