Comments on: Crowd Sourced Legislative Tracking for Crowd Sourced XBRL Disclosure

By: XBRL Data Tagging Standards Advance on Two Fronts | paulwilkinson.com

XBRL Data Tagging Standards Advance on Two Fronts | paulwilkinson.com — Thu, 10 Dec 2009 20:49:04 +0000

[...] on June 17, I blogged about the Government Information Transparency Act. The goal of government information transparency took a step closer to reality today when the [...]

By: PaulWilkinson

PaulWilkinson — Thu, 10 Dec 2009 19:39:03 +0000

On Thursday, Dec. 10, 2009, the House Oversight and Government Reform Committee unanimously approved S. 303, a bill to improve the administration of federal grants. (The Senate previously approved S. 303.) In doing so, the House Committee added the language of H.R. 2392, which it previously approved unanimously.

While the bill does not mandate XBRL specifically, it sets forth a series of criteria that only XBRL now meets. Just as corporations are now voluntarily adopting XBRL to provide for more accurate and reliable data reporting — a new interview with new insight was published just today at http://hitachidatainteractive.com/2009/12/09/xbrl... — so too is the House Government Oversight Committee supporting XBRL, for the simple reason that the Committee is responsible for ensuring that taxpayer money is spent for purposes that Congress intends.

Just as investors now benefit from more accurate financial reporting from public companies using XBRL, taxpayers may soon enjoy similar benefits. Moreover, XBRL's capability to bring an end to what is often known as "spreadsheet hell" with an open standard subject to automated validation will reduce paperwork and administrative costs. The House should quickly approve this legislation and return it to the Senate for final passage.

Video of the Committee meeting is here: http://www.youtube.com/watch?v=W2_Dk0cSx3o

By: xbrlplanet (Conor O'Kelly)

xbrlplanet (Conor O'Kelly) — Sat, 18 Jul 2009 10:59:22 +0000

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By: pjwilk (Paul Wilkinson)

pjwilk (Paul Wilkinson) — Thu, 18 Jun 2009 04:46:05 +0000

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