The Securities and Exchange Commission has given corporations one final farewell gift before the end of the Bush Administration: six more months to comply with the new XBRL mandate.
The SEC approved the mandate on a four to one vote last week, requiring all companies and mutual funds to use XBRL technology when filing financial reports. But the 500 largest U.S. public companies scheduled to go first under the new rule won’t need to start until July 2009, six months later than the SEC originally proposed.
