Since Extensible Business Reporting Language (XBRL) has become a requirement in financial filings with the Securities and Exchange Commission (SEC), they have been taking a closer look at the data. Lou Rohman, VP of XBRL Services at Merrill, discusses the issues surrounding XBRL. As a member of the XBRL US's Data Quality Committee, Rohman recommends paying closer attention to the guidance and validation rules provided by the committee.
With additional monitoring by the SEC, XBRL accuracy is becoming increasingly important. While the SEC is currently only making observations without formal penalties, that information is being shared to encourage companies to use proper tagging. Get the details on the most recent developments by reading the full article featured in Accounting Today.
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About Merrill Corporation
Merrill Corporation provides technology-enabled platforms for secure content sharing, regulated communications and disclosure services. Clients trust Merrill’s innovative applications and deep subject expertise to successfully navigate the secure sharing of their most sensitive content, perfect and distribute critical financial and regulatory disclosures, and create customized communications across stakeholders. With more than 3,000 people in 34 locations worldwide, clients turn to Merrill when their need to manage complex content intersects with the need to collaborate securely around the globe.