FASB Seeks Comment on Proposed Changes for the 2021 SEC Reporting Taxonomy

The Financial Accounting Standards Board ("FASB") proposed "technical and other conforming improvements" for the 2021 SEC Reporting Taxonomy (SRT). The proposed changes would (i) update certain standard and documentation labels and (ii) incorporate new elements from a recently-adopted rule concerning financial disclosures (see previous coverage).

Comments on the proposed changes must be submitted by November 2, 2020.