SEC Posts XBRL Proposed Rule; Comment Deadline August 1
May 30, 2008
On May 30, 2008, the U.S. Securities and Exchange Commission (SEC) posted the proposed rule, "Interactive Data to Improve Financial Reporting," that was approved for release by the Commission on May 14. The proposed rule would mandate that public companies report to the SEC and on their websites certain information using interactive data, specifically, eXtensible Business Reporting Language or XBRL. The comment deadline is August 1.
Further details are in this FEI Summary.
Prepared June 3, 2008 by Bill Sinnett, Director of Research, Financial Executives Research Foundation (FERF), and Edith Orenstein, Director, Technical Policy Analysis, Financial Executives International (FEI). This summary does not represent FEI opinion unless specifically noted above.