The US regulator is expected to announce new regulation today mandating the
filing of reports to the Securities and Exchange Commission in XBRL.
The rule, which will compel filing in Extensible Business Reporting Language,
is expected to apply to large public companies, including those on the US
Fortune 1000 index.
Companies which have already joined the voluntary filing program include
Ford, General Electric, IBM, Pepsi, United Technologies and Xerox, WebCPA.com
XBRL US board member, Sunir Kapoor said the move would make it easier for the
SEC to handle the thousands of reports it receives annually.
‘It will also make it easier for companies to file their 10-Qs and 10-Ks and
allow them more flexibility in their reporting. For investors and financial
analysts, the action will result in more accurate and robust information on
public companies. It really is a revolution in the way information will be
reported and consumed,’ he said.
Driving opportunity for all and empowering businesses for success are the key themes for the Sage Summit UK this year, which takes place on 5-6 April
The partnership will see PwC have 'physical presence' at CodeBase in Edinburgh
Unincorporated businesses under the VAT threshold given an extra year to prepare before MTD becomes mandatory
Simon Wright of CareersinAudit.com discusses how an effective cyber defence force is critical to businesses worldwide and how internal auditors can make the transition to a new career in cyber security