The staff of the Securities and Exchange Commission has posted a “small entity compliance guide” on its rules that require companies to submit financial statements tagged using eXtensible Business Reporting Language to the Commission and to post them on their corporate Websites.
As reported, the disclosure in interactive data format will be in addition to disclosure in the traditional electronic filing formats of ASCII or HTML. Financial statements will continue to be required to be submitted to the SEC in traditional format under existing requirements.
