XBRL mandate approved by the SEC

December 17th, 2008 posted in Blogs | 1 Comment

It has just been announced, at the culmination of the SEC roundtable on December 17th 2008, that the proposal for XBRL filing has been accepted (carried by 4 votes to 1) as well as for mutual fund reporting.

We are awaiting a press release, but it seems some minor changes to the May 2008 proposal will include the mandate timeframe being extended to companies reporting at the end of June, 2009.

The commissioners were unanimous on the benefits of the technologies, although question were raised about the timing of the adoption (during a crisis) and protection of investors should the information furnished lack proper controls.

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Derek Abdinor is online investor relations and corporate communications professional. Involved with online for 10 years, XBRL for one of those.
http://derek.abdinor.co.za | Email this author | All posts by Derek Abdinor

One Response to “XBRL mandate approved by the SEC”

  1. Ilija Šuša Says:
    December 17th, 2008 at 12:24 pm

    There are first press release:
    http://www.forbes.com/reuters/feeds/reuters/2008/12/17/2008-12-17T180750Z_01_N17335851_RTRIDST_0_SEC-XBRL-UPDATE-1.html
    http://xbrlblog.com/sec-mandates-xbrl-interactive-data-a-revolution-of-transparency-on-wall-street.html

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