FASB Launches New Taxonomy Online Review and Comment System

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14 Jun 2011

The US FASB launched a new system to provide transparency for users of eXtensible Business Reporting Language (XBRL) and to allow stakeholders to easily submit comments on the US GAAP Financial Reporting Taxonomy.

The new Taxonomy Online Review and Comment System allows users to provide feedback in 'real time' by submitting comments directly on the entire Development Taxonomy. The system also includes "new search and navigation functions designed to efficiently find the tags that best meet the SEC's filer requirements".

The FASB will host an IN FOCUS webcast on the Taxonomy Online Review and Comment System on Wednesday, 22 June, from 1:00 to 2:00 p.m. EDT (US).

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