DFIN and USAFacts to Present First-Ever Federal Spending 10-K Published in iXBRL at Data Coalition Virtual RegTech Summit
April 16 2020 - 7:00AM
Business Wire
Joint Case Study to Frame Discussions at
Virtual, Complimentary RegTech Data Week, April 20-22
Donnelley Financial Solutions (NYSE: DFIN), a leading global
risk and compliance company, and USAFacts, a nonpartisan
comprehensive resource of government data, jointly released
the first-ever iXBRL tagging of USAFacts’ full-length U.S.
government 10-K. A case study on the project will frame discussions
at the virtual, complimentary RegTech Data Week, April 2022,
hosted by the Data Coalition and sponsored by DFIN.
DFIN and USAFacts say the iXBRL-tagged 10-K can serve as a
blueprint for state and local governments to adopt structured data
in reporting. Replicating this nonpartisan civic initiative would
result in more accurate, accessible and useful government data for
all stakeholders and citizens.
“The promise of governments widely adopting iXBRL ushers in
greater transparency into state and federal funding, and an ability
to more accurately assess the efficiency and efficacy of spending,”
says Craig Clay, president of Global Capital Markets at DFIN, and
Board Member of the Data Coalition and the Data Foundation. “One
excellent way to promote new data standards is to develop pilots or
case studies on early adopters as DFIN has done, leading the way
for state and local governments reporting with USAFacts’ Government
10-K iXBRL.”
Clay adds that implementing high-quality structured data,
specifically tagged in iXBRL, will allow data analytics, artificial
intelligence and machine learning to enhance insights that drive
innovation and ultimately yield benefits to society.
“Structured data will improve speed, reliability, and
consistency, and make people’s lives easier when it comes to
accessing data,” says Poppy MacDonald, president of USAFacts, and
this year’s RegTech Data Week keynote speaker. “The decision to
publish a 10-K for government starts with the belief that the more
accessible we can make this information, the better.”
The USAFacts and DFIN case study includes processes, insights
and helpful hints for state and local governments looking to adopt
standardized data and technology. The case study is available
here.
USAFacts’ US Governments 10-K, in its fourth year of
publication, was created with the belief that U.S. citizens are the
nation’s stakeholders and should benefit from the same level of
rigor afforded shareholders of publicly traded companies. While
publicly traded companies are legally required by the Securities
and Exchange Commission to submit an annual Form 10-K, providing a
comprehensive summary of performance, there is no similar mandate
for in-depth analysis of our government. USAFacts creates the
annual 10-K by pulling millions of data points from hundreds of
government sources to provide an in-depth analysis of the nation.
Adding iXBRL to this year’s edition furthers the mission of
furthering transparency.
RegTech Data Week brings together leaders from the financial
industry, regulatory agencies, and academia to discuss the benefits
and uses of common entity identifiers, new pilot projects to
advance the use of structured data in regulatory reporting, and
other key considerations for adopting RegTech solutions in 2020 and
beyond.
The virtual RegTech Data Week begins Monday, April 20, at noon,
ET. Register to livestream the complimentary event here.
About Donnelley Financial Solutions (DFIN)
DFIN is a leading global risk and compliance solutions company.
We provide domain expertise, enterprise software and data analytics
for every stage of our clients’ business and investment lifecycles.
Markets fluctuate, regulations evolve, technology advances, and
through it all, DFIN delivers confidence with the right solutions
in moments that matter. Learn about DFIN’s end-to-end risk and
compliance solutions online at DFINsolutions.com or you can also
follow us on Twitter @DFINSolutions or on LinkedIn.
About USAFacts
USAFacts is a not-for-profit, nonpartisan civic initiative
providing the most comprehensive and understandable single source
of government data. USAFacts provides an online resource of
well-visualized data and trends in US spending, revenue,
demographics and policy outcomes – aimed at helping to ground our
public debate in facts. It produces topical content throughout the
year and has produced annual reports and 10-Ks on the nation.
Follow us on Twitter, Facebook, and Instagram at @USAFacts, and
sign up for the data-driven newsletter at www.usafacts.org.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200416005121/en/
Media Contact: Jeff Brennan media@dfinsolutions.com
Investor Contact: Justin Ritchie
investors@dfinsolutions.com
Donnelley Financial Solu... (NYSE:DFIN)
Historical Stock Chart
From Apr 2024 to May 2024
Donnelley Financial Solu... (NYSE:DFIN)
Historical Stock Chart
From May 2023 to May 2024