SEC releases sample letter to companies regarding their XBRL disclosures

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Sep 15, 2023

On September 15, 2023, the Division of Corporation Finance of the Securities and Exchange Commission (SEC) issued a sample letter addressing companies' XBRL and Inline XBRL disclosures in an ongoing effort to enhance the quality and utility of corporate financial data filed with the SEC.

The sample letter addresses several key areas, including Inline XBRL presentation, consistent reporting, compliance with Regulation S-K Item 402(v) related to pay versus performance, and proper tagging of financial statements and supplementary data. It emphasises the importance of correct XBRL tagging and compliance with SEC regulations.

Companies are encouraged to review this letter and consider its guidance as they prepare their XBRL and Inline XBRL disclosures. While the sample comments provided are not exhaustive, they offer valuable insights into common issues and best practices.

Re­view the sample letter on SEC’s website.

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