Workiva to Help Modernize Disclosure Across State and Local Governments
XBRL US Consortium Selects Workiva’s Dean Ritz to Chair Subcommittee on Data Modeling and Taxonomy
AMES, Iowa – August 9, 2018 – Workiva (NYSE:WK), a leader in data collaboration, reporting and compliance solutions, today announces that XBRL US, a national consortium for the XBRL business reporting standard, has appointed Dean Ritz of Workiva to chair a data modeling and taxonomy subcommittee of the new XBRL US State and Local Government Disclosure Modernization Working Group.
The Working Group will define open data standards for various state and local government reports, including Comprehensive Annual Financial Reports (CAFR), Single Audit packages and Annual Financial Reports (AFR). Experts from companies, universities, consultancies and nonprofits are serving on the Working Group and its four subcommittees to improve efficiencies in data collection, financial reporting processes and distribution and subsequent data analysis across the more than 90,000 state and local governments in the United States.
“We strongly support the efforts of XBRL US to improve the value of government data,” said Marty Vanderploeg, CEO of Workiva. “XBRL is becoming the global standard for financial reporting because it results in high quality, well-structured data that is easy to access and utilize.”
“Our Working Group has an opportunity to transform state and local government reporting,” said Dean Ritz, Senior Director of Digital Reporting Strategy for Workiva. “The movement from static documents to open data is spreading to dozens of countries, and we will apply the wealth of experience gained from those efforts to our work.” Ritz’s subcommittee will develop the information model and its implementation in XBRL.
“With our Wdesk platform, we have helped thousands of organizations improve data quality, increase efficiencies and ease regulatory burdens,” added Vanderploeg. “We want to offer these same benefits to state and local governments.”
Workiva delivers Wdesk, a leading enterprise cloud platform for data collaboration, reporting and compliance that is used by thousands of organizations worldwide, including over 75 percent of the Fortune 500®. Companies of all sizes, state and local governments and educational institutions use Wdesk to help mitigate risk, improve productivity and gain confidence in their data-driven decisions.
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