WITH financial data providers increasingly using XBRL filings in the numbers they deliver to Wall Street, poor corporate reporting controls are threatening company reputations and raising the specter of investors making trading decisions based on faulty figures. In one recent case, SEC Data Guy founder Ed Hodder reported that six companies have submitted XBRL instance [...]
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XBRL US Labs, the research arm of the XBRL US consortium, recently released a tool to show how data reported in eXtensible Business Reporting Language can be compiled within minutes of being posted on EDGAR and then presented in a way that makes analysis simple and visually interesting. The XBRL US ‘gadget’ allows users to [...]
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SINCE many companies have yet to make a decision about how they will meet the US Securities and Exchange Commission’s (SEC) looming XBRL deadline, we have put together a “Shoppers Guide” to help them navigate their way through the XBRL vendor market. The guide identifies 4 main criteria as a framework when selecting an XBRL [...]
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WHEN you work with eXtensible Business Reporting Language (XBRL) on a daily basis like I do, it’s easy to forget – and sometimes a little disconcerting — that most people don’t share your enthusiasm for the standard and its potential. In fact, it’s probably fair to say that the vast majority of people either (a) [...]
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AMERICAN businesses affected by Sarbanes-Oxley legislation still vividly remember the days leading up to the deadline for SOX 404 compliance back in 2004/2005, and the vast army of internal control specialists that were mobilized — at sometimes eye-watering rates — to help filers meet their Section 404 requirements. The SEC estimated that the average cost [...]
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