XBRL US, launched XBRL Consistency Suite, a set of online tools to help public companies identify inconsistencies in documents related to the use of the XBRL U.S. GAAP Taxonomy.
Over 1,400 XBRL financial statements have been submitted and, among those, thousands of errors have been identified, including:
- Incorrect use of signs
- Missing XBRL-tagged elements
- Tags that should not have been reported
The Consistency Suite performs over 6,000 tests against a company’s XBRL document and produces a report that shows taxonomy-specific errors that have been made.
Companies and their consultants can run the tool on their XBRL-formatted financials before submitting them to regulators and investors.