SEC Publishes Staff Review of Public Company Interactive Data Financial Statements


On November 1, the staff of the Securities and Exchange Commission’s Division of Risk, Strategy and Financial Innovation released a report of its review of the Interactive Data Financial Statement submissions during June–August. The submissions reviewed included the first group of mandated detailed tagged public company filings and the initial filings of the second phase-in group of public companies. The staff expects these deficiencies to be addressed by filers in their November Form 10-Q filings and future filings.

The most common deficiencies identified in the review included incorrect tagging of data with negative values, unnecessary use of custom elements where existing U.S. Generally Accepted Accounting Principles taxonomy is appropriate, incorrect tagging of classes of stock, and improper designations by consolidated entities of parent company and subsidiary information, and incorrect tagging of parenthetical line item data.

Please see article below.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Katten Muchin Rosenman LLP | Attorney Advertising

Written by:


Katten Muchin Rosenman LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.