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SEC letter on XBRL

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Hi,

We received a copy of the SEC Sample Comment Letter on XBRL. It is given in the below.

SEC.gov | Sample Letter to Companies Regarding Their XBRL Disclosures[1]

Below is one of the point from the letter.

  1. We note that instead of using an XBRL element consistent with current U.S. GAAP in your income statement, you instead used a custom tag.  Custom tags are to be used by filers when an appropriate tag does not exist in the standard taxonomy.  See Item 405(c)(1)(iii)(B) of Regulation S-T.  Please tell us why the current U.S. GAAP tag is not applicable, or alternatively revise your disclosure, beginning with your next filing, to correctly tag this disclosure.

So just wanted to understand what the above means and what needs to be done to answer this question.

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Comments

2 comments

Date Votes
  • Aditya Bhargav

    Just wanted to understand how we can pull the custom tags report from the 10Q document. 

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  • Isaac Oard
    • Edited

    Hi Aditya Bhargav

    We’ve received a few questions on this topic so far and are happy to assist. Workiva is a dedicated member of the XBRL US Center for Data Quality, and we actively participate in the Data Quality Committee (DQC) Rules Working group and our platform is certified to incorporate the latest set of approved XBRL US Data Quality Committee rules and validations. The sample letter provides examples of the types of comments the SEC could issue regarding XBRL quality. We recommend reviewing your XBRL filings for these items listed in the sample letter.That said, your dedicated PSM should be able to help here regarding XBRL quality. If you’re a DIY XBRL shop, please reach out to your Account Rep or CSM. Let me know if you have any follow-ups for me. Thanks!

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