Municipal market participants this week laid out their doubts about a data standards law in a blizzard of comments to the Securities and Exchange Commission.A similar refrain came from issuers big and small: the Financial Data Transparency Act of...
When Congress passed the Financial Data and Transparency Act (FDTA) in 2022, it required all municipalities in the U.S. to modernize and digitize their financial reports. This is a heavy lift for small towns and school districts, most of which still...
Stephanie Leiser, Accounting Today: "There's an enormous amount of municipal government financial data locked up in PDF documents. Unlocking that data has the potential to radically improve transparency and dramatically enhance our ability to...
The Center for Local, State, and Urban Policy (CLOSUP) has been partnering with XBRL US, to work with the City of Flint to explore whether a new fiscal reporting mechanism for governmental entities can help create transparency—and prevent future...
Stephanie Leiser, XBRL US: "Making government financial data open and accessible to all is the right thing to do, and it is long overdue. Financial transparency is absolutely essential to maintaining trust between governments and the public. Equally...
Increasing transparency in how local government works got a boost when the U.S. Congress passed the Financial Data Transparency Act (FDTA) on December 15, 2022. The act requires the Securities and Exchange Commission to adopt data standards related...
Join XBRL US for a session to explore government data standards, find out how governments can create their own machine-readable financial statements, and discover what impact this legislation could have on government entities. Most importantly, discover how machine-readable data standards can benefit state and local government entities by reducing costs and increasing access to time-sensitive information for policy making.
