SEC Votes To Release Proposed Rule That Would Mandate XBRL; Largest Co's First, Smaller Co's and Foreign Filers Phased In

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By Edith Orenstein, FEI Financial Reporting Blog - Earlier today (May 14), the SEC voted to release for public comment a proposed rule regarding requirements for public companies to file certain data with the SEC using data tags in eXtensible Business Reporting Language (XBRL). Here is the SEC's press release issued after the open commission meeting.

Bill Sinnett, Director of Research, Financial Executives Research Foundation and I listened to the SEC webcast of the open commission meeting, we posted some highlights and links to related information here.

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