When Christopher Cox, former chairman of the Securities and Exchange Commission, heralded the arrival of XBRL technology last year as the greatest advance in financial reporting in 20 years, he declared: “Interactive data will enable new analysis tools to put key information at every investor’s fingertips within seconds, exactly as the investor wishes to see it.”
Investors and analysts have since celebrated this regulatory milestone with an extended, gaping yawn.
Tittsworth
“We have not really heard anything from our members about the XBRL rule and how it could affect them,” says David Tittsworth, executive director of the Investment Adviser Association. “My guess ...