Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

XBRL Repeal for Small Companies Fails

Tammy Whitehouse | January 8, 2015

The new Congress fell just short of fast-tracking an exemption for more than half of all public companies from submitting their financial information to the Securities and Exchange Commission via XBRL.

In its first full day of business, the House of Representatives looked for a two-thirds majority vote to suspend its rules and push through its H.R. 37, “Promoting Job Creation and Reducing Small Business Burdens Act,” which includes a bill proposed by Rep. Robert Hurt to exempt public companies with revenues below $250 million from the XBRL filing requirement. The fast-track approach requires a two-thirds majority to pass, but the measure fell shy with 276 votes out of 422 cast for 65 percent.

hollister-hudson-colorHudson Hollister,...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.