SEC Flash Report - June 2016
SEC Permits the Use of Inline XBRL
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On June 13, the SEC issued an order permitting issuers to voluntarily embed XBRL data directly in their financial statements using a format known as Inline XBRL in lieu of providing tagged data in a separate exhibit. The order is available here
on the SEC’s website.
Issuers have been required to provide XBRL data in an exhibit to their filings. Consequently, issuers copy their financial statement information into a separate document and tag it in XBRL. By allowing issuers to instead embed tags directly into the financial statements, this voluntary program is intended to reduce preparation costs and increase the quality of the data, thereby increasing its use by investors and other market participants.
The order permits issuers to voluntarily use Inline XBRL in their periodic and current reports through March 2020.
For questions related to matters discussed above, please contact Jeff Lenz
or Paula Hamric