Washington, DC – XBRL US, the nonprofit consortium for XML business reporting standards in the US marketplace, announced today that Campbell Pryde will join the organization as Vice President, Domain and Chief Standards Officer. In his new role, Mr. Pryde will lead the development and maintenance of taxonomies for XML-based business reporting applications in the US. This position will play an integral part of the executive team of XBRL US in determining the strategy for taxonomy development and maintenance.
“The Chief Standards Officer is a pivotal position in driving adoption”, said Jeff Diermeier, President and CEO, CFA Institute, “Campbell Pryde’s background in both accounting and investments makes him uniquely qualified to step into this role.”
Mr. Pryde joins XBRL US from Morgan Stanley, where as Executive Director in the Institutional Securities Group, he managed the equity research XBRL-based valuation framework. He has been involved with XBRL since 2001, and most recently served as Chairman of the XBRL US Domain Steering Committee which is responsible for setting the strategic direction for development of the XBRL US GAAP taxonomies. Prior to joining Morgan Stanley, Mr. Pryde was a Partner in the Risk and Advisory Practice of KPMG LLP. He is a member of the New Zealand Institute of Chartered Accountants.
“Our successes in 2007 with the SEC project are due in no small part to the leadership of Campbell as the steering committee chairman” said Mark Bolgiano, President and CEO of XBRL US, Inc, “in the course of working together, we discovered a shared vision of the opportunities for XML business reporting in the US, and for XBRL US as a change agent and standard setter. I am very confident that Campbell has the ideas and ability to execute to realize that vision.”
XBRL US is currently under contract with the SEC to build out the US GAAP Taxonomies and develop guidance on creating XBRL-enabled financial statements for preparers. On December 5, the draft Taxonomies and documentation were made available for public review and XBRL US encourages public company preparers, investors, analysts and software providers to participate and provide comment. More information can be found at http://usgaap.xbrl.us.
About XBRL
XBRL (Extensible Business Reporting Language) is a royalty-free, open specification for software that uses XML data tags to describe financial information for public and private companies and other organizations. XBRL benefits all members of the financial information supply chain by utilizing a standards-based method with which users can prepare, publish in a variety of formats, exchange and analyze financial statements and the information they contain. XBRL International is a non-profit consortium of approximately 500 organizations worldwide working together to build the XBRL language and promote and support its adoption. XBRL International is responsible for the technical XBRL specification and each country-specific jurisdiction works to facilitate the development and adoption of local XBRL taxonomies, or dictionaries, consistent with accounting, regulatory, and market standards and practices.
About XBRL US
XBRL US is the non-profit consortium for XML business reporting standards in the United States and is a jurisdiction of XBRL International. It represents the business information supply chain, including accounting firms, software companies, financial databases, financial printers and government agencies. Its mission is to support the implementation of XML business reporting standards through the development of taxonomies relevant for use by US public and private sectors, working with a goal of interoperability between sectors, and by promoting adoption of these taxonomies through the collaboration of all business reporting supply chain participants. XBRL US has developed taxonomies to support U.S. GAAP and common reporting practices under a contract with the Securities and Exchange Commission. The XBRL US GAAP Taxonomies are available for public comment at http://usgaap.xbrl.us.
Contact: Michelle Savage, vice president, communication, 917 747 1714, michelle.savage@xbrl.us
