The proposed amendments are intended to improve the data’s quality, benefiting investors, other market participants, and other data users, and to decrease, over time, the cost of preparing the data for submission to the Commission.
Comments are due by Tuesday, May 16, 2017.
Learn about the IFRS XBRL Taxonomy and the implications of the SEC notification that the taxonomy has been approved and posted to the Commission web site.
Campbell Pryde, President and CEO, XBRL US
How companies report their financials can have a big impact on investing, and ultimately on the economy. That’s why issuers, analysts, investors and data analytics providers, as well as XBRL tool and service providers should comment on the SEC’s new rule proposal for Inline XBRL.
Version 3 of the freely-available rules and guidance developed by an industry collaborative and effective January 1, 2017 helps public companies detect inconsistencies or errors in their XBRL-formatted financial data.
Several tools are certified for implementation of the approved rules.
The accounting profession, data providers, public companies, technologists, federal regulators and a growing number of industry groups view XBRL as an important component of transparency in the markets. These organizations support the business reporting standard by collaborating on XBRL US initiatives with other like-minded organizations and individuals. Learn about membership options for individuals and organizations and get started today.