It's not surprising that larger companies are in favor of moving more quickly to international financial reporting standards (IFRS) than smaller companies. More than 100 countries already use IFRS and the SEC is debating whether to stick with the status quo or...
The SEC has completed the development of data tags for GAAP, a major milestone in moving financial reporting toward interactive XBRL format. The taxonomy includes 12,000 different data elements. The SEC will now focus on developing recommendations as to when...
Knowledge@Wharton weighs in on the ongoing discussions to soften the impact of Sarbanes-Oxley, particularly the onerous demands of section 404. The article summarizes arguments in favor of and against SOX and concludes as follows:For all the talk about protecting...
The SEC's internative data pilot is gaining traction - particularly after the Roundtable on March 19th. The new interactive platform, based on XBRL formatted filings from 36 companies participating in the pilot, is designed to replace the 20 year old Edgar...
CFO.com reports that a diverse group of institutional investors, government treasurers and controllers, and corporations is calling for federal legislation and SEC clarification to help address global warming. Excerpt from story at CFO.com:"Global warming...
They say hindsight is 20/20. Michael Oxley, co-sponsor with Paul Sarbanes, of the infamous Sarbanes-Oxley bill recently retired from congress and took questions from at a dinner for accountants in Paris. He expressed his regret over the consequences of his...
CFO.com has consolidated its XBRL coverage in a special report The SEC has poured $54 million into a new interactive reporting tool to replace the retiring Edgar. Now the Big Four say it is time to scrap quarterly reports in favor of real-time (read: daily)...
In response to nearly four years of complaints from public companies, the SEC voted 5-0 on Wednesday to ease Sarbanes-Oxley requirements to make compliance easier and cheaper. Christopher Cox, SEC Chairman commented [as quoted in the NYTimes]: “If America’s markets...
