On March 1, the U.S. Securities and Exchange Commission (SEC) announced support for the International Financial Reporting Standards (IFRS) interactive data (or XBRL) mandate. This directly impacts over 500 Foreign Private Issuers (FPI) – over 40% of which are in Canada – that have not previously had to create, review, and submit XBRL to the SEC. This means 20-Fs, 40-Fs, and 6-Ks with periods beginning on 12/15/2017 must now be submitted in interactive date format.
By Rob Blake, Vice President of Product Management Now that the dust has settled on the SEC press release and proposed rule from last week (more on that in our previous blog), let’s take a closer look at the operational impact. If you’re one of the many who saw the 121-page Proposed Rule on Inline […]
There’s been a lot of buzz surrounding Inline XBRL, but so far not a lot of concrete answers could be found. That’s all about to change. In an SEC press release dated March 1st, the SEC unanimously voted to require the use of iXBRL for public company reporting. Citing benefit to investors, improved accessibility, and […]
XBRL quality matters, and the XBRL US Data Quality Committee (DQC) is committed to improving quality of interactive data filings submitted to the SEC by providing guidance and rules that will detect and prevent inconsistencies in XBRL data. On June 30th, 2016, the DQC announced the start of its second public exposure period for proposed rules. The recently proposed rules consist of the following guidance.
Last week Certent announced its acquisition of DisclosureNet, a provider of software-as-a-service solutions that improve the quality of external and internal reporting by enabling peer comparisons and analysis, access to accounting standards, and quantitative benchmarking. The acquisition of DisclosureNet further expands Certent’s current financial compliance capabilities which streamline the SEC and SEDAR reporting process, improve productivity, and strengthen controls and collaboration.
It’s no secret that most of today’s top technology companies follow an Agile development methodology. By definition, an agile approach means shorter sprints of software development and allows companies the ability to more quickly adjust and appropriate resources to stay ahead of the competition. It’s faster, more flexible, and better aligned to the needs of the client base. Read on to find our why this should be important to you.
Yesterday, the SEC announced the start of the Inline XBRL, or iXBRL, voluntary filing program which runs through March 2020. External reporting professionals have heard rumblings of Inline XBRL for a few years now, and this announcement marks the SEC’s official launch into a new era of interactive data-based public disclosures. But with updated regulation comes anxiety and fear – and you want to know what does Inline XBRL mean for me?
Last week the XBRL US Data Quality Committee announced that the implementation of new validation rules put forth by the committee resulted in a significant increase in the quality of XBRL data submitted to the SEC in the first quarter of 2016. The validation rules were put in effect for the purpose of helping companies detect inconsistencies in their XBRL data specifically around incorrect negative values, improper value relationships between elements, and incorrect dates– and it seems to have been successful. Read this blog to see the results.
Attendees are raving about Certent’s 5th annual user conference, the Certent Summit 2016. Held in San Francisco, California at the Hotel Nikko, hundreds of attendees came together to connect, collaborate, and learn. From an inspirational keynote given by Geoff Colvin to our charity networking event supporting Stop Hunger Now, the event exceeded expectations. We look forward to our annual user conference, and from the looks of the slideshow, so do our clients!
Data comparisons enable your financial reporting team to analyze and benchmark your company’s performance against peers and competitors. Being able to easily access competitive data will add instant value to any strategic decision-making processes. It is crucial for your board of directors to have a clear picture of how you stack up to your competitors. Consider your current workflow for gathering accurate financial data from the SEC. Are you confident in that process?