Since our last update, there have been four significant XBRL developments:
- Transition of responsibility for maintaining the US GAAP Taxonomy
- SEC release of a new Previewer and Viewer engine
- Update to the EDGAR Filer Manual
- SEC Webinar focused on detailed tagging requirements.
Taxonomy Maintenance Transition
On February 5, 2010, the Financial Accounting Standards Board (FASB) announced the Financial Accounting Foundation (FAF) will be responsible for the ongoing maintenance of the U.S. GAAP Financial Reporting Taxonomy. The current 2009 taxonomy in use by SEC issuers was developed by XBRL US, Inc., an independent non-profit organization, with technical accounting support provided by the FASB. Going forward, XBRL US will transition to other projects with continued technical support from the FASB.