Xbrl voluntary program on the edgar system
1 / 10

XBRL Voluntary Program on the EDGAR System - PowerPoint PPT Presentation

  • Uploaded on

XBRL Voluntary Program on the EDGAR System. Jeffrey Naumann Enabling Technologies Specialist Office of the Chief Accountant. Disclaimer.

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
Download Presentation

PowerPoint Slideshow about ' XBRL Voluntary Program on the EDGAR System' - rebekah-calhoun

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
Xbrl voluntary program on the edgar system

XBRL Voluntary Program on the EDGAR System

Jeffrey Naumann

Enabling Technologies Specialist

Office of the Chief Accountant


The Securities and Exchange Commission, as a matter of policy, disclaims responsibility for any private publication or statement by any of its employees. Therefore, the views expressed today are our own, and do not necessarily reflect the views of the Commission or the other members of the staff of the Commission.

Interest in assessing xbrl
Interest in Assessing XBRL

  • Our mission:

    • Protect investors and maintain the integrity of the securities markets

  • Potential Impact of Tagged Data and XBRL

    • Internal -

      • Screening / risk assessment

      • Financial statement reviews

    • External -

      • Streamlined and more effective communication of company results

      • Better and faster investor access to financial information

      • Improved analysis for investors

Voluntary program objectives
Voluntary Program - Objectives

  • To analyze the use of XBRL in the marketplace today including:

    • Maturity and capabilities of the XBRL standard

    • Maturity of the standard GAAP taxonomies

    • Involvement of various stakeholders in the development and use of XBRL

    • Software available for data tagging, and consumption & analysis of XBRL data

    • Level of effort and cost to tag data in XBRL format

    • Usefulness of tagged data for Commission processes

    • Suitability of XBRL data for investor analysis & review

Establishment of voluntary program
Establishment of Voluntary Program

  • Amendments to Regulation S-T establish voluntary program

  • EDGAR Filer Manual was updated for XBRL upgrade to EDGAR system

  • EDGAR System was updated to accommodate XBRL submissions

  • Rules were effective March 16, 2005

Voluntary program structure
Voluntary Program Structure

  • Program is structured to be flexible and encourage participation

    • Volunteers may furnish supplemental financial information using XBRL

      • Official html or text filings still required

    • Volunteers may start/stop their participation at any time without advanced notice

    • Flexible timing for submission of XBRL documents

    • Limited liability provisions for XBRL documents

    • XBRL data does not have to cover an entire filing

      • However there are rules on how the data must relate to the official filing

How you can help our assessment
How you can help our assessment

  • Since its inception the Commission has sought out ways to enhance EDGAR

    • The disclosure program on EDGAR impacts many market participants

    • This is your opportunity to participate in the process and help shape future changes

  • Participate in the Voluntary Program

    • Submit XBRL Documents as part of the program

    • Provide support to registrants (software, services, etc.)

How you can help our assessment1
How you can help our assessment

  • Provide Feedback

    • Participant Feedback

      • Process for creating and submitting XBRL

        • Level of effort

      • Issues with voluntary program rules

    • General Feedback

      • Issues faced working with the XBRL Specification

      • Suggested enhancements to XBRL-enabled software

        • XBRL Enabled Software RFI Closes on Dec 2

      • Improvements and enhancements to the standard taxonomies

Where to get more information
Where to get more information

  • SEC XBRL Spotlight Page:

    • http://www.sec.gov/spotlight/xbrl.htm

  • Final Rule Release Establishing XBRL Program:

    • http://www.sec.gov/rules/final/33-8529.htm

  • EDGARLink Filer Manual

    • http://www.sec.gov/info/edgar/edmanuals810.htm

  • Frequently Asked Questions About the XBRL Program

    • http://www.sec.gov/info/edgar/xbrlfaq032105.htm

Contact us
Contact us

  • Brigitte Lippmann, Jeff Naumann or any of the other names listed on the final rule release

  • For general inquiries, email us at xbrlprogram@sec.gov