Rivet was notified recently of an XBRL US webinar on “Using the Units Registry” coming up on Tuesday, February 19th. They’ll discuss how the SEC is now enforcing XBRL International’s Units Registry. Though technical, the messaging below from XBRL US gives a great explanation:
“As we noted by email yesterday, effective immediately, the SEC is enforcing the requirement that all filers use the XBRL International Units Registry.
What does this mean to filers? If you are using an element with a datatype that is defined in the Units Registry, you must use one of the units associated with that datatype in the units registry in your filing. If you use a unit that does not match the datatype in the units registry, your XBRL submission will be rejected by the EDGAR system. This applies to all filings that are created using the 2012 US GAAP Taxonomy and of course, will apply to the 2013 as well.”
Sounds intense, and for many should sound off alarms. But if you are using Rivet’s Crossfire you were already abiding by the requirement long before it was enforced by the SEC. Rivet has even incorporated it into our validation.
Rivet does not only incorporate rules into our validation because the SEC was enforcing it. Rivet believes in quality and that using the standard, in this case the units registry, gives data more transparency and comparability. We are glad the SEC agrees.
If you are concerned about your filing and the issues outlined above, give us a call: 720-249-2191