XBRL US submitted a comment letter expressing support for the SEC proposal that would require the use of the Inline XBRL specification for operating companies and mutual funds. Highlights from the comment letter include:
- Transitioning to Inline XBRL will reduce the burden on filers and improve the quality of XBRL-formatted data
- A phase-in schedule is appropriate for operating companies
- The Commission should consider challenges facing operating companies and mutual funds when determining the timing in the final rule
- Inline XBRL should be required for reporting of all disclosures by reporting entities required by the SEC including such areas as the MD&A and proxy
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