The Workiva Platform has been updated in support of the compliance requirements for Recovery of Erroneously Awarded Compensation Disclosures (Clawback disclosures). These Disclosures will be tagged using the ECD 2023 taxonomy, which is included in US GAAP 2023 and IFRS 2023 taxonomies. Similar to tagging other disclosures using the ECD Taxonomy, you do not need to manage the XBRL Outline to generate valid XBRL Files, you simply need to tag the facts in your document and the Workiva Platform will take care of the rest.
The Executive Compensation Disclosure (ECD) Taxonomy Guide mentions the use of custom tags for certain disclosures for both Recovery of Erroneously Awarded Compensation and Pay vs Performance. As the XBRL outline is managed by the Workiva platform, any custom concepts will need to be mapped to the disclosure it relates to for these areas in the ECD taxonomy. Custom extension members will not need to be mapped, only custom extension concepts. The following image indicates the dropdown to select the Disclosure Mapping.This can be done by editing any of your existing extension concepts or during the creation of any new ones.
If extension concepts are not mapped, you will receive the following validation error during the generation process:
We are here to help
Since we understand this required iXBRL tagging may be new for you and your teams, the Workiva Professional Services team will be available for any of your tagging needs.
Should you want to discuss support options available in meeting the upcoming Recovery of Erroneously Awarded Compensation requirements, don't hesitate to reach out to your Account Rep, CSM or PSM.
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