Heads Up on new SEC XBRL requirements
29 Dec 2008
On 17 December 2008, the US Securities and Exchange Commission voted to issue two final rules that will require registrants (other than investment companies) and mutual funds to provide financial information and risk/return summary information, respectively, in an interactive data format in certain filings with the SEC.
Such information will be made interactive through use of eXtensible Business Reporting Language (XBRL). The National Office Accounting Standards and Communications Group of Deloitte (United States) has published a Heads Up Explaining the New XBRL Requirements (PDF 114k). The table below summarises the phase-in of requirements for XBRL data.
|Phase-In Group||Periods* Ending on or After|
|Domestic and foreign registrants using US GAAP that have a worldwide public float of more than $5 billion||15 June 2009|
|All other domestic and foreign large accelerated filers using US GAAP||15 June 2010|
|All remaining registrants using US GAAP and foreign private issuers using IFRSs as issued by the IASB||15 June 2011|
*Generally, an entity's first interactive data submission will be included as an exhibit to a quarterly report on Form 10-Q, or an annual report on Form 20-F or Form 40-F, as applicable.