The US Financial Accounting Standards Board (FASB) has released for public comment its proposed 2015 GAAP Financial Reporting Taxonomy, which “contains updates for accounting standards and other recommended improvements to the official taxonomy”. The taxonomy consists of XBRL-coded labels with tags that allow financial statement users to “electronically search for, assemble, and process data so that the data can be readily accessed and analyzed by investors, analysts, journalists, and regulators”.