|
Highlights from the 18th XBRL International Conference
The conference, Business Reporting for Better Decisions: by Managers, Investors, Governments and Citizens, took place in Washington, DC, October 15 - 16 and attracted more than 500 global business leaders who gathered to discuss the impact of interactive information reporting on the capital markets and the public sector. Highlights from the conference include:
- The Investor Communication Symposium featured keynote Linda Kelleher of the National Investor Relations Institute and sessions on institutional and individual investors. Hear Ms. Kelleher's remarks (http://xbrl.us/media/20081015kelleher.mp3).
- Ira Millstein, well-known corporate governance expert from Weil, Gotshal & Manges LLP covered the use of XBRL on risk management for boards. Listen to Mr. Millstein's remarks (http://xbrl.us/media/20081016millstein.mp3).
- The Public Sector Symposium featured sessions on XML-based reporting for municipal securities, grants and federal government reporting and showcased Steven App from the FDIC and Kim Wallin from the State of Nevada as top-level keynotes. Listen to Ms. Wallin's remarks(http://xbrl.us/media/20081016wallin.mp3 ).
- A special session on asset-backed securities (ABS) with Campbell Pryde, XBRL US, Greg Sears, CFA Institute and Phil Moyer, EDGAR Online offered expert opinion on how XBRL could provide clarity and greater transparency in the ABS marketplace.
View the presentations from the conference:
http://conference.xbrl.org/Program/program.aspx
XBRL US Announces Public Review of Data Tags for Mutual Fund Risk/Return Summary and Schedule of Investments
XBRL US completed the set of data elements which will be used to put key mutual fund information contained in the risk/return summary section of the prospectus, as well as investment company portfolio holdings information, in structured data format. XBRL formatting of this content can make mutual fund disclosure more accurate and improve accessibility for investors and others. The two taxonomies were created under contract with the Securities and Exchange Commission (SEC) in response to its rule proposal that would mandate the use of XBRL for mutual fund reporting of the risk/return summary. The data elements are now available on the XBRL US Web site (http://xbrl.us/imtaxonomies). All users and creators of investment company information are encouraged to download the full taxonomies or review them to comment on individual elements. Comments received by November 24, 2008 will be reviewed and potentially incorporated into the final taxonomies that are likely to be used in mutual fund filing starting in 2009.
Review and comment on the taxonomies: http://xbrl.us/imtaxonomies
Read the news release: http://xbrl.us/press/Pages/20081021.aspx
Read the SEC rule proposal on mutual fund risk/return summaries:
http://www.sec.gov/rules/proposed/2008/33-8929.pdf
XBRL US Names DTCC's Donald F. Donahue to Board of Directors
Donald F. Donahue, Chairman and CEO of The Depository Trust & Clearing Corporation (DTCC) has been named to the XBRL US Board of Directors. Mr. Donahue is a 20-year veteran of DTCC and The Depository Trust Company (DTC), and previously served as DTCC's Chief Operating Officer, head of Customer Marketing and Development and DTC's Chief Information Officer, among other roles. DTCC is also becoming a member of the XBRL US consortium, and XBRL US and DTCC are in the process of developing a prototype collection of terms (taxonomy) for use with corporate actions data. Additionally, Ray Lewis, Leadership Partner, Regulatory and Public Policy Group, Deloitte LLP, has assumed Robert Kueppers' Seat on the XBRL US Board.
Read the news release:
http://xbrl.us/press/Pages/20081015.aspx
New Webinar program shows filers how to prepare for XBRL reporting
XBRL US continues its ongoing series of free live webinars with a new program designed to help companies implement XBRL reporting. The new program includes key steps, decisions and considerations for implementing XBRL, insight from SEC representatives who will provide updates on proposed regulatory activities, how to use a taxonomy and demonstrations on how create XBRL-formatted financial statements. The first program will be held on Wednesday, December 3rd.
Register for December 3 Webinar: http://xbrl.us/events/Pages/current.aspx
SEC holds roundtable on 21st Century Disclosure Initiative
On October 8, 2008, the 21st Century Disclosure Initiative hosted a formal roundtable including Alfred Berkeley, Chairman and CEO, Pipeline Trading LLC and Chairman, XBRL US Board of Directors, to gather input from companies, investors, practitioners, and academics on ways to modernize the disclosure system. The Roundtable was organized into two panels. The first panel explored the data, technology, and processes that companies and other filers use in satisfying their disclosure obligations. The second panel considered how the SEC could better organize and operate its disclosure system so that companies enjoy efficiencies and investors have better access to high quality information.
For a complete web video of the Roundtable, click here:
http://www.connectlive.com/events/secroundtable100808/
For an unofficial transcript of the Roundtable, click here:
http://www.sec.gov/spotlight/disclosureinitiative/roundtable/transcript100808.pdf
XBRL US establishes the Taxonomy Working Group to provide oversight to the US GAAP Taxonomies maintenance program
XBRL US has formed the US GAAP Taxonomy Working Group to serve as an advisory team for changes to the taxonomy that result from accounting standard-setting activities, and also to evaluate and advise on change requests submitted by individuals commenting on the US GAAP Taxonomies. Members of the group include business leaders representing all segments involved in the business reporting supply chain. They are:
- Landon Westerlund, KPMG
- Lisa Nelson, Microsoft
- Lou Rohman, Merrill Corporation
- Patricia LaValle, Ernst & Young
- Glenn Doggett, CFA Institute
- Simon Hecht, United Technologies Corporation
Join Us - XBRL US is the national consortium for xml business reporting standards and developers of the XBRL US GAAP Taxonomies. Our members are committed to engaging and collaborating with other members, contributing to the standard through involvement of their teams, and striving to build awareness and educate the market. Members of XBRL US represent the full range of the business reporting supply chain. Find out more about the benefits of membership and how to become involved. |