Free Pricing | JCPenney Coupons | Pizza Hut Coupons | Home Depot Coupons
Edgar Overhaul Creeping Along

Edgar Overhaul Creeping Along

by Rick Turoczy on August 14, 2006

“We have 15,000 public companies registered with us, but not nearly that many people who can spell XBRL,” he quipped. “Still, rather than do it by fiat, this is the kind of the thing the market would drive, if it is the right idea.”

Mr. Booth noted the key selling point for companies to adopt XRBL filing is that it makes compliance with Sarbanes-Oxley less of a headache.

Of course, that would mean that companies would have to stop doing their financials in multiple formats and start standardizing on XRBL.

“I think there’s a lot of synergy between being SOX-compliant and XRBL compliant,” Mr. Booth said. “If companies used it internally in the preparation of their statements, when you do that, you start to automate that process that SOX says you need internal controls around.”

Edgar Overhaul Creeping Along

Leave a Comment

Previous post:

Next post: