As the Securities and Exchange Commission marches toward the mandatory adoption of XBRL technology, it is hearing encouraging words from its counterparts around the globe already using the eXtensible Business Reporting Language.
Participants at a June 10 SEC roundtable generally praised XBRL and had no major complaints about their experience implementing the financial reporting standard. The SEC expects to approve its own XBRL mandate later this summer or fall, which would go into effect for Corporate America as early as next spring.
