Technology


The Digital Accountability and Transparency (DATA) Act of 2013, which expands disclosures of federal agency expenditures, was signed by President Barack Obama and could pave the way for adoption of XBRL for the reporting of federal budget and spending information.

“This is an important day for the American taxpayer,” AICPA President and CEO Barry Melancon, CPA, CGMA, said in a news release. “By signing the DATA Act into law, President Obama has paved the way for implementation of a system that will allow each and every one of us to more easily track federal spending data.”

The DATA Act is designed to provide a more transparent look into the expenditures of federal agencies and requires a nonproprietary, platform-independent data standard such as XBRL. The AICPA has promoted the expanded use of XBRL for government and business.

RESOURCES

Keeping you informed and prepared amid the coronavirus crisis

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.

SPONSORED REPORT

Getting leases in line

ASC Topic 842 is a relatively simple standard that can mean profound changes for organizations with leases. This report examines what makes this standard challenging and describes new ways for CPAs to add value.