SEC Announces EDGAR to be Succeeded by IDEA; Lutz Speaks on 21 Cen. Discl. Project

Posted by accountingweb on Aug 19 2008 798 printer friendly

By Edith Orenstein, FEI Financial Reporting Blog - The SEC announced at a press conference earlier today (Aug. 19)- see related SEC press release - that it has "unveiled the successor to the agency’s 1980s-era EDGAR database, which will give investors far faster and easier access to key financial information about public companies and mutual funds. The new system is called IDEA (Interactive Data Electronic Applications).

The SEC notes that the IDEA system, "[b]ased on a completely new architecture being built from the ground up... will at first supplement and then eventually replace the EDGAR system."

Also speaking at today's SEC press conference was Dr. William Lutz, who is leading the SEC's previously announced 21st Century Disclosure Project.

Read more from today's press conference here.

View the discussion thread.

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FEI Financial Reporting Blog provides highlights from SEC, PCAOB, FASB, IASB, and other regulatory news, including reporting under Sarbanes-Oxley Sect 404. It is written by Edith Orenstein, Director of Technical Policy Analysis at FEI

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