Friday, February 15, 2008

In the SEC’s Progress Report on Improving Financial Reporting, released today (please see link below to the complete report) the SEC recommends “ … a gradual phase-in of interactive disclosure technology (i.e., XBRL-tagging) to facilitate the ability of investors to more easily access comparative arrays of company information, while minimizing the burdens on preparers (especially smaller companies). A phase-in approach would allow for enhanced understanding of the technology, proven use of the new XBRL U.S. GAAP Taxonomy, and further development of tagging and rendering software.”

There is a whole section in the document about XBRL…an interesting read


At 9:36 am, Blogger Ed said...

It's worth noting that this is not the SEC's progress report but comes from an advisory committee made up of people from outside the commission. The recommendations are non-binding to the SEC and John White, Director Division of Corporate Finance has indicated that the SEC may move more aggressively.


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