A free public presentation on the use and benefits of eXtensible Business Reporting Language (XBRL) in government and industry is being held Tuesday, July 19 in Washington, D.C. The one-day event, âXBRL in Government and Industry,â is organized by XBRL-US, the U.S. jurisdiction of the XBRL International consortium, and hosted by the Federal Deposit Insurance Corporation (FDIC).
âCorporations and regulators will both benefit from the transformation in financial and business reporting standards with XBRL and it's critical that they understand how XBRL will changes the corporate reporting supply chain,â Says Paul Penler, Chairman, XBRL-US. âThis program will provide the basics on XBRL but also a deeper look at how it's working today.â
The program will begin with a general plenary session between 8:30-10:00 a.m. Speakers including Mike Bartell, CIO, FDIC, Jeffery Naumann, Enabling Technoligies Specialist, Office of the Chief Accountant, U.S. Securities and Exchanges Commission (SEC) and Brigitte Lippman, Attorney, Division of Corporation Finance, SEC will discuss their successes in using XBRL for regulatory filings. The plenary session will be followed by two parallel tracks covering âXBRL in use in Government: Opportunities and Challengesâ and âXBRL in use in Corporate Reporting: Opportunities and Challengesâ.
The morning session of the Government track will cover current XBRL projects and implementations in federal, state and local government in the U.S. and internationally. The afternoon session will be a discussion of potential applications, hurdles to adoption and an assessment of the readiness of government agencies to transform their own reporting processes. Owen Ambur, Co-Chair, XML Community of Practice (xmlCoP) and Martin Henning, Project Manager, CDR, FDIC will join others as speakers and presenters on the Government track.
A discussion of the SEC Voluntary Filing Program will fill the morning session of the Corporate track. The afternoon session will examine the impact of streamlining communication throughout the business reporting supply chain. Speakers including Colleen Cunningham, CEO, Financial Executives International, Elmer Huh, Executive Director Equity Research, Morgan Stanley, Doug Johnson, Sr. Policy Analyst, American Bankers Association, Louis M. Thompson, President and CEO, National Investor Relations Institute, Keith Wilson, Associate Chief Auditor, Public Company Accounting Oversight Board (PCAOB) and Barry Ward, Head of Financial Reporting, ING Americas, among others will present their visions or better reporting and perspectives on XBRL as an enabler for improved market information.
The event will be held at the FDIC's L. William Seidman Center in Arlington, VA. To register and for more information, visit the XBRL-US web site.