Regulatory Analytics Uncovered?

Posted on September 22, 2017 by Editor

Internationally renowned XBRL expert, Mike Willis, runs the Office of Structured Data (OSD) at the SEC. This week he was interviewed by Lou Rohman for a piece in the Merrill Corporation magazine, Dimensions.

As well as outlining the role of OSD, Willis describes some of the capabilities that their in-house XBRL analytic tools provide to the  staff of the securities regulator. SEC staff can identify unusual patterns in financial statements that might require follow up or investigation via a range of in-house tools.

Their CIRA tool provides dashboards that can compare a specific company to its peers in order to detect abnormal results, focus on particular financial reporting issues, and generate lists of companies that meet a specific criteria.

It’s pretty clear from the interview that, without giving away any of its investigative secrets, the US regulator relies increasingly heavily on its XBRL data set for a wide range of enforcement and policy making activities. Read the piece here (sign up required).

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