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TechTalk Blog - US Government Mandates Machine-Readable Government Financial Reporting Using Data Standard Like XBRL For Better Data Analytics

The law also incorporated the OPEN Government Data Act, which requires all non-sensitive government data to be made available in machine-readable formats which includes financial data using global standards like XBRL.


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TechTalk Blog - Need for Digital Assurance Services Grow As Structured Data (XBRL) Gains Momentum by Both Capital Markets & Governments For Better Decision Making

As regulators, investors, companies, government and analysts increasingly use XBRL data for their analyses the market need for digital assurance of the specific reported data elements using XBRL will increase – especially as data is separated from original disclosure documents and mashed into new reports and data analytic surveys. Major search engines like GOOGLE are using structured data (XBRL is a version of structured data created by the accounting and auditing for business and financial data reported on the Internet) to better locate and process information: “Structured data use is increasing and is in approximately one-third of the commonly crawled web now and clicks increased by 43 percent using the structured data format


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TechTalk Blog -- CFO MAGAZINE: FINANCE TEAMS TRANSITION OVER TO STEWARDS OF NONFINANCIAL DATA

The Finance team is quickly becoming the “de facto” manager of nonfinancial data analytics critical to the operation of the companies they serve – Modified Chief Data Officer… As CFO Magazine describes: “About three-quarters (76%) of finance teams currently track some nonfinancial metrics, according to a November 2016 survey of about 300 global CFOs by Adaptive Insights. Nearly half (45%) of the respondents say they now act as their companies’ de facto chief data officer—reporting on a range of KPIs, including nonfinancial metrics


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TechTalk Blog - Securities Regulators from Growth and Emerging Markets Seeking Comments on Sustainability Disclosures (CSR/ESG) & Role of Regulator in this Area

This also includes human capital data disclosure by companies including gender pay and pay ratio data including composition of boards of directors.

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TechTalk Blog -- 86% of Accounting Tasks Can Be Automated With Current Technology -- Management Accountants Need to Review New Technologies

Data creation, data governance, data analytics and Big Data according to the Accounting Today article.

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TechTalk Blog -- NEW LEGISLATION INTRODUCED IN CONGRESS TO MOVE XBRL ACROSS ALL US FEDERAL FINANCIAL AGENCIES FOR BUSINESS REPORTING

” This same XBRL data format is being deployed across the federal government for contract and grant making under the DATA ACT approved unanimously by the US Congress in 2016


Blog Entry
TechTalk Blog - US Securities & Exchange Commission Chairman and US Congress Urge Public Companies to Disclosure Human Capital Metrics to the Capital Markets

House of Representatives and Senate that would require every public company to disclose in proxy statements: (i) data regarding the racial, ethnic and gender composition of its board of directors, director nominees, and executive officers, as well as the status of any such person as a veteran, in each case, based on voluntary self-identification; and (ii) whether the board has a policy or strategy to promote racial, ethnic and gender diversity among directors, nominees or executive officers