Be ACFR XBRL/iXBRL Ready with IRIS Instant
IRIS Instant helps you file your Annual Comprehensive Financial Reports (ACFRs) in machine-readable XBRL — fast, accurately, and future-ready.
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About the ACFR Mandate Under FDTA
What Is the FDTA?
The Financial Data Transparency Act (FDTA), enacted in December 2022, aims to modernize and digitize financial disclosures by U.S. state and local governments, specifically:
Annual Comprehensive Financial Reports (ACFRs)
Municipal bond disclosures
Budget and expenditure data
Key Deadlines
2027 Onward:
Local government entities will be expected to submit their ACFRs in machine-readable formats using the defined taxonomy.December 2026:
Finalization of technical guidance for data reporting formats (expected to be XBRL/iXBRL).
Why Public Finance Teams Need IRIS Instant
Labor-Intensive Reporting
Tagging an ACFR in XBRL/iXBRL can take days without automation.
Seasonal Filing Burdens:
Short submission windows strain staff resources.
High Risk of Tagging Errors:
Manual processes and unfamiliarity with GASB standards increase the risk of errors or non-compliance.
Limited In-House XBRL Expertise:
Most public sector finance teams have limited exposure to XBRL technicalities and taxonomy structures.
IRIS Instant: Your Trusted Solution
IRIS Instant is a cloud-based, AI- and ML-powered platform purpose-built for public sector agencies seeking to simplify ACFR reporting in XBRL/iXBRL formats.
Reduces turnaround from days to hours
Eliminates manual effort
Ensures full compliance and accuracy
What Makes IRIS Instant Unique?
AI-Powered XBRL Tagging:
Convert PDF to XBRL in minutes
Learns as You Use: 
Auto-suggests correct tags based on prior filing patterns
Intelligent Error Detection:
Get real-time alerts for inconsistencies
GASB Taxonomy Support: 
Full compliance with current standards
Certified Validation Engine:
Powered by an XBRL International–certified engine
Zero Installation, Fully Web-Based
Get started in minutes.
See How It Works
Tailored Benefits for Strategic Partners
- Upload & Scan
- Review & Edit
- Generate 
Upload your ACFR in PDF, AI extracts relevant financial data.
Intuitive webforms allow easy edits and validations. Â
Validated, ready-to-file documents are instantly generated in the required format.
Smart Error Detection
Expert Review Services (Optional)
Interactive Side-by-Side View
Secure Cloud-Based Access for Teams
The IRIS Instant Advantage
Built for U.S. Public Sector Reporting
Not a repurposed finance tool – IRIS Instant is engineered to handle the structure, granularity, and uniqueness of municipal ACFRs.
Not a repurposed finance tool – IRIS Instant is engineered to handle the structure, granularity, and uniqueness of municipal ACFRs.
Fast Onboarding, Easy Filing
From PDF to XBRL in days. No IT dependency.
From PDF to XBRL in days. No IT dependency.
Taxonomy Support That Evolves with You
Currently supports the XBRL US working group ACFR taxonomy. When the official U.S. government taxonomy drops, IRIS Instant updates within 24 hours — no rework needed.
Currently supports the XBRL US working group ACFR taxonomy. When the official U.S. government taxonomy drops, IRIS Instant updates within 24 hours — no rework needed.
Error-Free, Audit-Ready Reporting
Auto-validation, data lineage, and MD&A tagging — so you never miss a compliance step.
Auto-validation, data lineage, and MD&A tagging — so you never miss a compliance step.
Trusted Worldwide, Backed by Experts
Used by 30+ regulators, central banks, and over 1.5 million entities across 50 countries.
Used by 30+ regulators, central banks, and over 1.5 million entities across 50 countries.
IRIS Instant is powered by XBRL International certified XBRL validation engine
Trusted by Global Leaders
Recognitions & Accolades
Best RegTech
Central Banking London 2024
Most Agile SAAS
SAAS Awards, 2022
Best Tax Tech (Jury)
TIOL, 2022
Best Fintech
FE, 2022
Best Tax Tech (Silver)
TIOL, 2021
Why Public Finance Teams Need IRIS Instant
With the onset of ACFR digital reporting mandates, government finance departments face new pressures and higher stakes.
Common challenges include:
Labor-Intensive Reporting
Tagging an ACFR in XBRL/iXBRL can take days without automation.
Seasonal Filing Burdens
Short submission windows strain staff resources.
High Risk of Tagging Errors
Manual processes and unfamiliarity with GASB standards increase the risk of errors or non-compliance.
Limited In-House XBRL Expertise
Most public sector finance teams have limited exposure to XBRL technicalities and taxonomy structures.
Future-Ready, Not Just 2027-Ready
Digitization is not just about meeting a deadline — it’s about improving transparency, efficiency, and trust in government finance.
With IRIS Instant, you’re not adapting to change. You’re leading it.
With IRIS Instant, you’re not adapting to change. You’re leading it.
Flexible Service Levels
IRIS Instant
Self-serve, AI-powered compliance solution.
IRIS Instant + Review
Bundle with expert review and validation for added assurance.
Still Exploring? Let’s Talk.
Need help understanding how FDTA affects your entity? Want to know what taxonomy to use?
We’re here for every step — from awareness to filing.
We’re here for every step — from awareness to filing.
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