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XBRL Reviews empower your team to establish a collaborative, responsive, and controlled review process for XBRL Facts at their source, directly in Workiva. Teams can designate a status for facts and take them through a two-tiered verification and approval process. After a fact is verified or approved, Workiva's system will monitor the fact and flag it for review when certain changes occur.
The Review summary panel is a great launch pad to find out where you are in the process and navigate to any fact that requires your attention. Once a Verified or Approved fact changes and requires further review, the View Changes function allows you to see exactly what changed and how. If there are questions or notes about the tagging, you can leave a comment and have discussions with your team directly on the facts in the XBRL Review.
When rolling forward a filing, XBRL Reviews will be copied and you won't need to reset the review status for all your facts—they will inherit their status from the time the filing was copied. The rolled-forward Review indicates whether any previously-verified or -approved facts have been changed, or if any new facts have been added.
After enabling XBRL, you can create a review to see the status of facts in your document. You can create multiple reviews in a single document if desired.
Create a review
On the XBRL toolbar, click the dropdown above XBRL Review and choose Create New. In the dialog, give the review a name and review the meanings of the various statuses to ensure you understand when flags should be used. Once you’ve created a review, you can select it from the XBRL Review dropdown.
The XBRL Review panel
The XBRL Review panel on the left will display the status of the facts included in the most recent XBRL generation. At the top of the panel, you can see how many facts are in each status. Below, you can see how many facts are in each section, and you can hover over the number next to each section to see a breakdown of how many facts are in each status. You can click the name of a section to expand it and see a detailed breakdown of fact status, allowing you to see the status of each individual fact and navigate to the location where it is used in your document.
Statuses are used to show where XBRL facts are in your review process, ranging from the Pending status for facts that have not been acted on, to Approved for facts that have been reviewed and approved by multiple reviewers.
Apply a status
You can set the status of a fact in the Fact Details panel. Select a fact then click the Status icon in the top left to select a status. If you have multiple facts selected, you can apply a status to all selected facts at once.
Filter by status
If you have multiple facts selected, you can see the status of all selected facts at the top of the Fact Details panel, in a similar breakdown to the one seen in the XBRL Review panel. You can then filter your selection to see and update only the facts in a particular status. You can filter by clicking the filter drop-down or by clicking on the Status Icons in the Fact Details Panel.
Once a fact has been designated as Verified or Approved, the XBRL Review will monitor the fact and automatically update the fact's status to Needs Review if certain changes happen. Below is a listing of all the qualified changes that the XBRL Review will watch for, along with some examples of changes that will not be monitored.
- Typed Dimensions
- Replacement of Date
- XBRL Footnotes
- Reverse Fact Value Sign
- Include if Zero
- Include if Nil
- Fact Value Override (only applicable to a few Concepts)
- Extensible Enumerations (only applicable to a few Concepts)
- Not monitored
- Fiscal Date Roll Forward
- Special Date Roll Forward
- XBRL Presentation Outline
- Concept Labels
- Calculation Relationships
- Fact Value
- Extension definition changes
- Resizing Fact
- Disconnecting/Reconnecting Fact
- Hiding / Unhiding Facts within a Table
- Disabling / Enabling XBRL Section Property
- Adding / Removing an already tagged Link
- Link Property changes such as Absolute Value
- Value Formatting changes such as Entered In/Shown In
You can then view the details of what changed, how it changed, by whom and when by clicking on the View Changes icon within Fact Details. This view will be visible until the XBRL Fact is re-verified and/or re-approved.
Within an XBRL Review you will now have the capability to leave comments directly on your XBRL Facts. The comments can be added and managed directed from within the fact details panel. In the XBRL Review Panel, you can switch to the Comments tab to manage all of the comments applied to XBRL Facts in the XBRL Review from one location.