A new Compliance Week survey suggests that most of Corporate America is barely aware of XBRL, the financial reporting technology the Securities and Exchange Commission is poised to mandate later this fall.
The SEC has already published a proposal to mandate XBRL for all companies by 2011, and for Fortune 500 companies as soon as next spring. The public comment period on that proposed rule is already half over, and SEC Chairman Christopher Cox has been abundantly clear that he wants a final rule voted and in place before he leaves office in January.
