The XBRL flywheel continues to turn.
The first phase of XBRL-based financial filings — those for the largest public companies — arrived in June. More large public companies will be required to file via XBRL in 2010, and by 2011 all public companies will be using the data-tagging language to file their financial reports.
And if mandated filing dates don’t pique your XBRL interest, a recession might. The demand for accurate, timely and transparent financial information is as high as it has ever been. It seems the financial crisis is tailor-made for XBRL.
Despite all of that, Taylor Hawes says some significant challenges remain.
