State and local governments could take advantage of the interactive data-tagging technology that the Securities and Exchange Commission plans to require public companies to begin using for their financial filings.
A research study by the Association of Government Accountants examined the feasibility of developing and using Extensible Business Reporting Language, or XBRL, taxonomy to tag data in a state's Comprehensive Annual Financial Report. A pilot project in Oregon was one of the first actual pilot implementations of XBRL in the governmental sector in the U.S.
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