CHICAGO--(BUSINESS WIRE)--Donnelley Financial Solutions (NYSE: DFIN), a leading provider of risk and compliance solutions, today announced that the company was awarded certification for the XBRL US Data Quality Committee (DQC) 6th rule set.
“RegTech and AI are driving the evolution of compliance and analysis, and we’re proud to be recognized as a leader in that evolution,” said Craig Clay, president of Global Capital Markets at Donnelley Financial Solutions. “Donnelley Financial is supporting this evolution with our ActiveDisclosure, compliance filing solution, and data analysis tools, that are designed to streamline compliance while providing the highest level of quality.”
Donnelley Financial was a founding member the XBRL US Center for Data Quality. XBRL US, a not-for-profit organization focused on maximizing the quality of XBRL data, and an alliance of member companies, formed the Center to address concerns about, and to improve the utility of, XBRL financial data filed with the U.S. Securities and Exchange Commission (SEC). The 6th rule set includes validation checks for filings prepared using the US GAAP Financial Reporting Taxonomy and the International Financial Accounting Standards (IFRS) Taxonomy.
The DQC certifications provide assurance and confidence to clients that Donnelley Financial’s XBRL rules validation delivers the highest level of accuracy and testing available today. The DQC’s guidance and validation rules were developed to help prevent or detect inconsistencies or errors in XBRL data filed with the SEC, and focuses on data quality issues that adversely impact data analysis.
Craig Clay serves on the board of the Data Coalition and the Data Foundation, which are focused on policy and rule changes needed to deliver high quality standardized data to regulators and markets.
Fulfilling one of the Data Coalitions main policy initiatives, the SEC recently announced the adoption of Inline XBRL, for operating companies’ financial statement information and risk/return summary information. Inline XBRL, which allows structured data XBRL tags to be included behind the scenes in HTML format, is intended to streamline reporting while improving the quality and accessibility of XBRL data.
Donnelley Financial is ready to support SEC Inline XBRL, beginning this fall with a comprehensive series of client educations programs, designed to meet the first mandated filing for Q2 2019.
For more information on Inline XBRL and RegTech, check out Donnelley Financial’s whitepaper on "How Data Will Define the Future of Regtech."
For additional information on Donnelley Financial's approach to GDPR, please visit http://info.dfsco.com/gdpr.
About Donnelley Financial Solutions
With the right solutions in moments that matter, Donnelley Financial Solutions (NYSE: DFIN) delivers risk and compliance solutions that fuse deep industry experience, unparalleled service, and elegant technologies to provide our clients with insights that power their decisions and shape global markets. The company has 3,100 employees in 59 locations across 17 countries, serving thousands of clients globally. For more information about Donnelley Financial Solutions, visit www.dfsco.com.