SEC official calls for simple XBRL implementations giving real value

SEC official calls for simple XBRL implementations giving real value

May 16, 2006

SEC Chief Information Officer Corey Booth has called for simple implementations of XBRL which can create real value in the shorter term. Speaking at the opening day of an XBRL International Conference in Madrid, Mr Booth suggested that using XBRL to encode earnings release information would be a very powerful initial niche for XBRL in the US. Another might be to use XBRL for company primary financial statements, leaving reporting of notes in XBRL to a later stage. To the see the full text of Mr Booth's review of XBRL's challenges and opportunities, click on the link above.