SEC expands XBRL programme
XBRL project grows for the Securities and Exchange Commission
XBRL project grows for the Securities and Exchange Commission
The Securities and Exchange Commission has extended its voluntary programme
for accepting filings under the controversial XBRL format.
The expansion to its scheme, which began in April in an attempt to make it
easier for investors and others to use disclosure documents, now allows mutual
funds to file exhibits to their annual report and quarterly statement of
portfolio holdings.
XBRL is a mark-up language that tags data to allow it to be more easily
searched for and analysed.
However, its take-up has been controversial, with commentators suggesting
that there are already too many different ways to mark up financial data,
defeating the purpose of having standard data tags.
Meyer Eisenberg, acting director of the division of investment management,
said: ‘Mutual funds should review the benefits of participation in this
important voluntary programme.’
Eisenberg said the move was a ‘significant step towards the collection and
evaluation of XBRL data’.
‘Once mutual funds begin participating in the voluntary program, investors,
analysts, the SEC and volunteers in the program themselves will be able to
assess the potential benefits of XBRL.’
The numbers you crunch tell a story. Your expertis...
19yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe shift to cloud-based accounting marks a significant transformation, enhancing efficiency, collaboration, and data security, and setting new standa...
View articleOn February 28, Xero became the latest accounting technology provider to launch a new AI assistant. ‘Just Ask Xero’ or JAX was announced a...
View articleThe collaboration between OCR and AI in automating the AP workflow marks a significant stride towards operational excellence. Read More...
View articleThomson Reuters has successfully acquired Pagero, a Swedish e-invoicing and tax solutions company, for approximately $800 million. The content and tec...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleWith so many accounting software options on the market today, from QuickBooks to FreshBooks to Xero, it can be overwhelming for small business owners ...
View articleThe Horizon scandal has shed light on the crucial role of ethical practices in the accounting technology industry, and underscored the need for transp...
View articleAccountants in industry must upgrade wisely to help their businesses evolve, according to Nick Longden of AccountsIQ Read More...
View article