SEC underlines importance of structured data, confirms shift towards iXBRL
Securities and Exchange Commission Chair Mary Jo White has made strong statements to a Congressional Committee, reiterating that agency’s commitment to structured data and electronic reporting, citing the benefits to investors and others. She provides the clearest indication yet that the SEC will shift from its existing dual reporting structure to a single Inline XBRL filing arrangement. She further addresses the “Hurt Bill” saying that exempting smaller companies would impede the SEC staff from conducting its work. Read the analysis by the Data Transparency Coalition.
Related – check out a recent report by the Institute for Corporate Responsibility at the George Washington University School of Business and the Center for Audit Quality (CAQ) on a series of common sense measures the SEC can take to improve corporate disclosures. Many of the recommendations will resonate across the board – no matter where you are. Download the report.