SEC offers incentives to companies that file in XBRL

SEC offers incentives to companies that file in XBRL

January 11, 2006

The U.S. Securities and Exchange Commission offered expedited reviews of registration statements and annual reports to companies that take part in the test filing of financial reports in XBRL, saying that interactive data holds the promise of transforming the static, text-only documents companies file with the SEC into dynamic financial reports that can be quickly and easily accessed and analysed. A SEC official later said the offer was drawing "plenty of interest".