Wednesday, February 20, 2013

The SEC's New "Robocop"

In a resounding answer to the critics who state that the SEC is not making use of the XBRL data it is collecting, that agency has recently announced a new "Robocop", which is an electronic too designed to trigger alarms when the data being filed indicates suspicious accounting.

The new tool will be made possible by using the XBRL data being filed with them. For a report on  this important event, check this link. The article being referred to does state that a similar approach is being taken in Canada, but that part is not true, since the Canadian regulators do not require XBRL filings.

Monday, February 11, 2013

SBR in Finland


XBRL Finland has published the first draft of its SBR Taxonomy for public review and comment. The taxonomy covers financial statement reporting, tax reporting and statistics reporting by limited companies, cooperatives, partnerships, limited partnerships and sole proprietors. For the taxonomy, click here..