A new report finds some interesting trends on how companies are incorporating and using XBRL, the interactive digital tagging system for financial reporting. According to the survey, companies are bringing more of their XBRL process in house, although they continue to face several challenges with preparing XBRL filings and remain concerned about its usefulness compared to its cost.
The Financial Executives Research Foundation released the results of its 2013 survey, SEC Reporting Practices and the Impact of XBRL, in November. This third installment of the annual FERF survey, which includes responses from 442 different companies of various sizes, provides a number of interesting findings on the trends, challenges, issues, and opportunities that Securities and Exchange Commission registrants are experiencing with XBRL and other aspects of their SEC reporting processes.
