XBRL to gain momentum in 2007, says Financial Executives International

 

8 January 2007

 

 

Financial Executives International (FEI), an association for chief financial officers and other senior finance executives, has placed XBRL near the top of its list of financial reporting challenges for 2007, saying the standard would gain momentum with increasing voluntary adoption during the year.

 

Colleen Cunningham, chief executive and president of FEI, placed XBRL at third place in her list of challenges for the year, behind the US Securities and Exchange Commission’s plans for new internal controls and a new interpretation on uncertain tax provisions. 

 

“The SEC has made eXtensible Business Reporting Language (XBRL) a priority.  Expect more momentum in 2007 as more companies voluntarily adopt and the SEC continues to prioritize XBRL,” she stated.

 

XBRL has moved up from ninth position in FEI’s list of challenges for 2006.

 

The full list of FEI challenges is available at http://www.xbrl.org/Announcements/FEI-Top10-2007.pdf.

 

The FEI website is at http://www.fei.org/eweb/Dynamicpage.aspx?webcode=fei_Home.

 

 

 

 

Announced by:

Peter Calvert

XBRL International

 

 

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