SEC CIO: Vendors Must Lead XBRL Charge
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The Securities and Exchange Commission will begin hosting a series of forums next month to encourage more take-up of the XBRL (Extensible Business Reporting Language) by firms in their SEC filings.
Despite introducing incentives for companies to file financial and other reports using XBRL, "the vast majority of EDGAR documents" are still filed in other formats, mainly ASCII or HTML, said R. Corey Booth, chief information officer and director of the US regulator's IT office.
"That's fine for
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