The XBRL US Data Quality Committee (DQC) recently approved nine new validation rules, following public review and comment. This latest instalment of the Committee’s valuable ongoing work takes the total number of freely available DQC-approved rules to 83, applying to many hundreds of reporting concepts.
These validation rules can be incorporated into XBRL software and used to carry out automated checks on filings prior to submission to the Securities and Exchange Commission. They help issuers detect and resolve inconsistencies and errors, and ensure data quality in their final reports.
A number of DQC validation rules have also been incorporated into a DQC Rules Taxonomy by the US Financial Accounting Standards Board (FASB), with more planned for each taxonomy released.