SEC releases draft taxonomy updates for feedback
Sep 10, 2021
In September 2021, the Securities and Exchange Commission (SEC) published draft 2021Q4 and 2022 updates to the SEC taxonomies, and now welcomes public comment. These XBRL taxonomies are used for reporting financial data to the SEC via its Electronic Data Gathering, Analysis and Retrieval (EDGAR) system. Comments are requested by November 1, 2021.
The 2022 draft release updates all standard SEC-maintained taxonomies for acceptance in EDGAR, as part of the Commission’s annual review process. In addition, the draft 2021Q4 release makes modifications to the Document and Entity Information (DEI) taxonomy and the new proposed Closed-End Fund (CEF) taxonomy. It removes certain document- and entity-related concepts from the CEF taxonomy that are already found in the DEI taxonomy, while for the DEI taxonomy it updates certain references and adds concepts for tagging auditor information.
Review the press release on the SEC's website.
