The Securities and Exchange Commission has yet to release its formal proposal that companies start adopting XBRL technology for financial reports starting as soon as next year—so Corporate America is engaging in some good old rampant speculation until then. The SEC took its first step toward an XBRL mandate on May 14 when it […]
Technology
Posted inTechnology
Three Years to Get Moving on XBRL
Anyone closely following the Securities and Exchange Commission has long known that sooner or later, the agency would order companies to start filing financial reports using XBRL technology. Well, it seems the SEC has opted for sooner. Under a plan unveiled last week, the largest 500 public companies in the United States would start submitting […]
Posted inTechnology
SEC Delays Meeting on XBRL Proposal
Securities and Exchange Commission plans to transform corporate financial reporting through the use of interactive data are, apparently, on hold for a few more weeks. The SEC had announced last week that it would vote yesterday, April 21, on whether to propose a rule requiring companies to file financial reports using XBRL technology. Then, just […]
Posted inData Privacy
Educating Staff Leads to Improved IT Security
In today’s business environment, information security and protection of information assets are vital to the long-term success of all organizations. Information is the lifeblood of corporations and a vital business asset. IT systems connect every internal department of a company and connect the whole company to myriad suppliers, partners, customers, and others on the outside, […]
Posted inData Privacy
FTC Identity Theft Rules Put Cos. on Alert
Financial institutions and other creditors soon will be under the close eye of the Federal Trade Commission and banking regulators, which are stepping up their scrutiny of how those businesses detect and respond to identity theft. According to new “Red Flags” rules that went into effect Jan. 1, any organization that handles consumer financial data […]
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Software, Printing Vendors Prep for XBRL
Many public companies have been, ahem, less than enthusiastic about adopting XBRL for their financial-reporting processes. Software vendors, however, are just about doing handsprings for what they see as their moment finally arrived. In the last six months, the Securities and Exchange Commission has unveiled a trio of XBRL software programs for investors; the most […]
Posted inData Privacy
PCI Group Publishes Self-Assessment Tests
Any retailers still unsure whether their data security standards can pass muster now have a new way to see how safe (or not) customer data really is. The Payment Card Industry Council has published a detailed set of “self-assessment questionnaires” for small and medium-sized retailers, who typically aren’t required to have their data security reviewed […]
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Preparing Yourself for the XBRL Wave
Once upon a time, I was a young auditor dutifully carrying around my audit bag filled with hand-written green ledger sheets (written with my Pentel, of course). I got on planes to Washington, D.C., to deliver filings to the Securities and Exchange Commission on their due date and walked across New York City to give […]
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Hard Feelings on Proxy Access; XBRL; More
The Securities and Exchange Commission may be setting forces into motion that will bring the battle for shareholder access to the proxy statement back into court—three months after the SEC approved a rule to kill proxy access for at least another year. SEC staff earlier this month issued no-action letters to numerous companies, including Bear […]
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Holland Takes a Different Tack on XBRL
If U.S. regulators want to see how they could wisely, successfully integrate XBRL technology into financial reporting, they might benefit from a visit to the Netherlands. While the United States—and Japan, and numerous other countries around the world—envisions XBRL as a way to bring more information to investors, Holland is taking a very different approach […]