The XBRL community is launching a new movement to expand corporations’ use of the data-tagging technology to mergers, reorganizations, and similar transactions—even though Corporate America still hasn’t even started complying with a previous mandate to use XBRL in financial statements.
At a summit meeting in New York on May 28, several regulators, financial organizations, and XBRL activist groups announced a new proposal to use XBRL technology to standardize the disclosure of corporate actions. The coalition says many such transactions are fraught with risk because the information from issuers is disseminated to numerous intermediaries (investment managers, broker-dealers, financial custodians, and ...