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Data Quality Committee: Latest Round (Version 14)

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  • Yasukiyo Yukawa

    How often do these updates happen and how can I be notified of them? I was shocked to see the related data quality errors in my document with only a week or two before filing. Mike much appreciated if you could answer. 

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  • Mike

    Hi Yasukiyo Yukawa!

    Happy to shed a little light on this for you.

    Great question Yasukiyo!

    The Data Quality Committee (DQC) seeks to introduce a new set of rules three times a year. Their process includes a public comment period for feedback and eventually an approval process that will determine when they will become available and effective.  Typically, the effective dates are usually around 90 days after approval, but this has varied based on rule or ruleset. For example, version 14 was approved on January 25th, but updates for existing rules and new rules are not effective until after February 28, 2021 and April 30, 2021, respectively. 

    At Workiva, we work to incorporate the latest round of approved rules by the DQC as timely as possible to allow filers to review and address any data quality items. We share those updates in the Workiva Community when they are live in Workiva, both in the form of a release note, accompanied by additional info on the updates (like this post). One way to stay apprised of those updates is to follow both the What’s New and XBRL and iXBRL topics, as we would publish those items there and doing so will send you automatic emails on new product updates, and on need-to-know XBRL items.

    For future approved rules/ plug-in updates that coincide with peak filing time, our team will work to share communications as early as possible on expected rule approval and timing for updates to be reflected in Workiva.

    Hope this helps! Give us a holler if you do have any further questions. Thanks again, and have a super day!

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