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The AAO Weblog covers accounting issues and current events as they relate the practice of investment analysis. All posts prior to September, 2007 are in the public domain, but after September 4, 2007, only subscribers to The Analyst's Accounting Observer will see all posts going forward. Only selected, occasional posts will be released to the public domain from September 4 forward.

A Digital Carrot From The SEC
Location: BlogsAAO Weblog (Public)    
Posted by: Jack Ciesielski 1/12/2006 5:30 AM
Yesterday, the SEC provided filers with a new incentive to use XBRL.

The Commission will offer expedited reviews of filings under the 1933 Act, and for well-known seasoned issuers, it will inform them when their 10-Ks have been chosen for review.

This has been one of Chairman Cox's favorite projects so far. It's early in the year enough to wish for it: it would be great to see some real practical results in time for the 2006 end-of-year reporting season. One thing that has been lacking from the SEC's XBRL plans so far: users of financial statements. It would be encouraging to see that as well.
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