The Securities and Exchange Commission has upgraded its EDGAR online system for financial filings and will no longer support an older version of the U.S. GAAP financial reporting taxonomy.
The SEC said Tuesday that it upgraded EDGAR on Monday to Release 15.2 and it no longer supports the 2013 U.S. GAAP financial reporting taxonomy and the 2013 EXCH taxonomy for XBRL, or Extensible Business Reporting Language.
The SEC staff is strongly encouraging companies to use the most recent version of taxonomy releases for their XBRL exhibits to take advantage of the most up-to-date tags related to new accounting standards and other improvements.
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