As global accounting standards have started to converge, businesses are increasingly being required to understand and adopt XBRL as an enabling technology in enterprise wide disclosure initiatives being mandated by global financial governing bodies, such as the SEC’s Final Rule in the US and HMRC in the UK. Executing any company IT strategy requires knowledge, foresight and careful planning and XBRL is no exception.
Finding the Devil in the Detail of Financial Statements It has often been said that "the devil is in the detail." Somewhere, buried among all the data in mortgage backed securities…
No World Borders editorial comment: We should remember what got us to the point of having Wall Street executives being micromanged - a lack of financial transparency required the ARRA…
Summary Even though the U.S. Securities and Exchange Commission (SEC) clearly defined financial transparency as an important component of the foundation of our financial system, it is nearly non-existent in…