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17 Dec 2008
The US markets watchdog could mandate new technology for company filings later today.
The SEC will consider a proposal to mandate the filings of reports for public companies using the interactive data format XBRL.
XBRL is a technology that allows users to 'tag' financial data, and is intended to make the information comparable with the financial information of other companies.
Under the rule, as originally proposed, public companies would be required to submit their reports in XBRL in a phased approach beginning in early 2009 with the largest filers.
'Such transparency and democratisation of information can only lead to a more informed public – and greater transparency on Wall Street,' said Sunir Kapoor, a board member of XBRL US.
'I think we can expect to see even more adoption of such technologies by U.S agencies in the next administration as President-elect Obama has been a champion of similar transparency initiatives in the Senate,' he added.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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