18th XBRL
International Conference to Feature SEC Chairman Cox, October 15-16, 2008 in
15th July
2008
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WASHINGTON, July 15 /PRNewswire/ -- XBRL
International and XBRL US today jointly announced "The Ultimate
Client: Business Reporting for Investors, Government and Citizens", a
global conference that will explore how improved business and financial
reporting through interactive data will affect investor communications, governance,
risk and compliance as well as government reporting. The event will
capitalize on the momentum building through recent worldwide initiatives related to XBRL
including the requirement in Japan and China for public company reporting in
XBRL format; the European Parliament's recent agreement that the EC
would support XBRL for EU regulatory filings and business reporting;
and recent rule proposals from the U.S. Securities and Exchange Commission
(SEC) that would mandate XBRL for public companies, mutual funds, and
credit rating agencies. SEC Chairman Christopher Cox will keynote the
event. "Interactive data
is being introduced in nearly every major market around the world. As the use of interactive
data in SEC filings becomes the norm, we can look forward to a streamlined
financial reporting process that provides more timely access to information
for investors, financial analysts, and regulators," said SEC
Chairman Christopher Cox. "XBRL tagging promises easier identification and
comparison of financial data, and will vastly simplify cross-border analysis
because tags are being built to accommodate at least 30 different spoken
languages. At the SEC, we are on the threshold of replacing the EDGAR model
with a new 21st-century reporting system that runs on interactive
data." Individuals who should
attend the conference include investment professionals, IT professionals and data
managers, senior financial executives, data intermediaries, investor
relations professionals, software providers, legal professionals, corporate
and firm-based plus corporate secretaries and regulators/government
agency professionals. "We anticipate a
record audience for this conference," said Ralf Frank, Managing Director at DVFA (the German
Society of Investment Professionals, a division of EFFAS, the European umbrella
of investment professional societies). "With the support from
global regulators and markets, the dialogue about interactive data is moving
towards how information can be used for better decision-making by
investors, analysts, regulators and internal accounting professionals, and
that's happening in Europe, Asia and North America." Mr. Frank was recently
named to the XBRL International Conference Advisory Committee which
oversees all activities related to the upcoming conference. The conference will be
held in the United States capitol, Washington, DC at the Ronald Reagan Building and
International Trade Center on October 15-16, 2008. Conference attendees will be
able to attend topical symposia that highlight the importance of
information reporting in specific areas: -- Governance, Risk and
Compliance, to provide insights into how interactive data will impact proxies, ESG
and corporate social responsibility -- Investor
Communication, to cover corporate web sites, prospectuses, annual reports and press release distributions -- Public
Sector/Government, to educate on interactive data in government grants, tax, statistics,
municipals, budgeting and other agency activities All attendees will be
able to join user-focused sessions covering public company preparers, technologists,
regulators and consumers. "Washington, DC is
one of the most multicultural cities in the world and serves as an appropriate setting for a
global technology standard that easily and effectively crosses
borders," said Jeff Diermeier, CFA, President and CEO of CFA Institute and
Chair of the XBRL Conference Advisory Committee. "Better, more
transparent information means better decision making for regulators, government
agencies, investors, analysts, finance executives, and others. The
conference program is designed to illustrate how improving the information
standard with XBRL can help make that happen." To find out more about
the conference and to register, http://conference.xbrl.org/ About XBRL XBRL (Extensible
Business Reporting Language) is a royalty-free, open specification for software that uses XML
data tags to describe business and financial information for public and
private companies and other organizations. XBRL benefits all members of
the information supply chain by utilizing a standards-based method with
which users can prepare, publish in a variety of formats, exchange and analyze
business and financial statements and the information they
contain. About XBRL International XBRL International is a
non-profit consortium of approximately 550 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 review at http://xbrl.us/pages/us-gaap.aspx. |
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