News & Press Releases
For the latest press releases, media advisories and news related to XBRL or the 19th XBRL International Conference, please visit this page often.
If you are a credentialed member of the media and would like to attend the conference or interview XBRL experts, please contact David Colgren at:
Media Contact:
David Colgren
Colcomgroup, Inc.
+1 917 587 3708
16Jun09: ECMconnection.com
Breaking Down Toxic Assets
Fox News Video
Philip Moyer, CEO of Edgar Online, on why financial investors have been outgunned by the banks.
16Jun09: ECMconnection.com
Is Your Investor Relations Web Site Ready for XBRL?
By Diane Mueller
"...Now is the time to get your IR web site compliant with the U.S. SEC mandate. First, you need to ensure that your IR web site is ready and able to accept and post XBRL filings in an easily discoverable and permanently linkable manner. It is important that you clearly identify the data that you control on your IR web site. By assigning URIs (hyperlinks) to resources (actual XBRL-tagged filings), you enable other people to talk about and even share ‘as reported' views of your filings using social networking applications..." >>link to full story
09Jun09: Press Release
XBRL INTERNATIONAL ELEVATES ITALY, LUXEMBOURG AND SOUTH AFRICA TO FULL VOTING JURISDICTIONS
NEW YORK, NY – JUNE 9, 2009 -- XBRL International, Inc. (XII) (www.xbrl.org) announced that Italy, Luxembourg and South Africa have been elevated to full jurisdictions with voting rights in the XBRL International Steering Committee. Jurisdictions facilitate and drive adoption of XBRL within their defined regions, supporting the XII mission to promulgate XBRL as the worldwide business reporting standard.
“As governments and stock exchanges reengineer regulatory frameworks to protect investors and stimulate economic recovery through improved data transparency and disclosure, XBRL jurisdictions are actively involved in helping to shape this new regulatory landscape,” said Anthony Fragnito, CPA, CEO of XBRL International, Inc. “With the elevation of Italy, Luxembourg and South Africa, XBRL is now officially represented in 24 jurisdictions spanning Europe, Middle East, Asia/Pacific, North America and South America, with many others in the formative stage.”
“Jurisdictions work with government leaders, regulators, industry organizations, company executives and other stakeholders to drive adoption of XBRL within their respective countries,” added Fragnito. “As a result of these efforts, XBRL is either mandated or part of voluntary filing programs in more than 20 countries, including China, Japan and the US - three of the world’s largest economies.”
Each jurisdiction will be represented at the upcoming 19th XBRL International Conference: "Reducing Reporting Burden with XBRL: A Catalyst for Better Regulation” in Paris, France, June 23-25, 2009. Leaders from the world’s central banks, securities regulators, auditing and accountancy standards bodies, stock exchanges and corporations will speak during the conference to executives, investment managers, accountants, technology vendors, analysts and others. They will describe how XBRL is being applied today to reduce reporting burden, improve disclosure and enhance transparency of both financial and non-financial information (e.g., sustainability reporting). Special sessions are being held for members of the investment community, including hedge funds, to demonstrate how XBRL meets their information needs. To review the agenda or register for the conference, please visit www.conference.xbrl.org.
28May09: Press Release
DTCC, SWIFT and XBRL US Join Together on Plan to Improve Processing of Corporate Actions Announcements
"...New York, May 28, 2009 – The Depository Trust & Clearing Corporation (DTCC), SWIFT and XBRL US announced today a plan to fundamentally change corporate actions announcement processing, bringing greater accuracy, reduced risks and costs, by improving transparency and communication between issuers and investors. The collaboration will promote straight-through-processing by electronically capturing data directly from issuers or offerors at the point that a corporate action is announced and in a standardized format..." >>link to press release
21May09: NextGov.com
Information services firms see potential business in derivatives market reporting
By Aliya Sternstein
"...Some information services companies are optimistic that recent proposals by the Treasury Department to increase transparency in risky derivatives markets will open up new business for them. Derivatives, financial contracts whose value is based on other underlying assets, are largely unregulated and have been blamed for contributing to the nation's financial crisis..." >>link to full story
20May09: CFO.com
In Data-Tag Game, the Feds Are It
Under a proposed law, all government agencies that require corporate reporting — not just the SEC — would have to collect and disseminate financial data with XBRL tags.
By David McCann
"...the proposal by California congressman Darrell Issa, the ranking Republican on the House Committee on Oversight and Government Reform, would go much farther. It would require the federal government to "standardize the collection, analysis, and dissemination of business and financial information," through the use of XBRL, "to the maximum extent practicable."
That means all federal agencies that require corporate reporting would have to accept reports, and prepare any analysis of them to be disseminated, in the XBRL format..." >>link to full story
15May09: Federal Computer Week
Bill would mandate using XBRL to track TARP money
By Matthew Weigelt
"The Government Information Transparency Act (H.R. 2392), introduced May 14 by Rep. Darrell Issa (R-Calif.), would standardize the collection of business information throughout agencies. It would require agencies to use a single data standard known as eXtensible Business Reporting Language (XBRL) and require that collected information be made readily available for public access." >> link to full story
08May09: Computerworld.com
Survey: Most companies ready for SEC conversion
At least 340 of about 500 companies are ready for next month's deadline
"At least 340 of the estimated 500 public companies required by the U.S. Securities and Exchange Commission (SEC) to begin filing financial data in the XBRL format in June have made the conversion, according to a survey from XBRL US, a nonprofit standards group." >>link to full story
27Apr09: Press Release
XBRL International, Inc. Announces Board of Directors
NEW YORK, NY – APRIL 27, 2009 - XBRL International, Inc. (XII) announced today the establishment of its inaugural Board of Directors comprised of senior leaders and experts with broad international experience in financial, business and regulatory reporting, accounting and standard setting. The Board will advise and assist in executing strategic opportunities as a result of XBRL’s growing international adoption, identify critical regulatory and accounting convergence trends for which the XBRL standard could be used as a solution, and develop long-term growth and sustainability strategies for the XBRL international consortium. >> link to press release
22Apr09: WebCPA.com
Official 2009 XBRL Taxonomy for GAAP Released
By WEBCPA Staff
"XBRL US has published the 2009 edition of the interactive data tags that the Securities and Exchange Commission will accept for coding financial statements in accordance with U.S. generally accepted accounting principles..." >> link to full story
16Apr09: InvestmentExecutive.com
Canadian Issuers Bracing for First Phase of XBRL
By Kate Betts-Wilmott
"...Canadian issuers busy with the transition to International Financial Reporting Standards (IFRS) in 2011, will also feel the impact of the adoption of Extensible Business Reporting Language (XBRL)..." >> link to full story
15Apr09: Harvard Business Publishing
A Better Way to Rate Bonds
By John Sviokla
"...Many articles have called for increased transparency in financial markets. A recent Wall Street Journal article by L. Gorgon Crovitz points out that FDR wisely opted for transparency rather than overburdening regulation. Crovitz also notes that XBRL, the more flexible and intelligent data standard for sharing financial information, might help make things more open..." >> link to full story
15Apr09: Media Advisory
19th XBRL INTERNATIONAL CONFERENCE TO BE HELD IN PARIS, FRANCE ON JUNE 23-25, 2009
The 19th XBRL International Conference: "Reducing Reporting Burden with XBRL: A Catalyst for Better Regulation” is produced by XBRL International, Inc. and is hosted by XBRL France in cooperation with XBRL Europe. The conference will offer a unique opportunity to interact with and hear from key vendors, the XBRL leadership and various government regulators discussing XBRL solutions, projects and implementations of XBRL to provide greater regulatory transparency.
The governments of Argentina, Australia, Belgium, Canada, Chile, China, Denmark, France, Germany, India, Israel, Japan, Korea, Netherlands, Norway, Singapore, South Africa, Spain, Sweden, Thailand, United Kingdom and United States have regulatory mandates or voluntary filing programs for business reporting requiring XBRL.
Featured Keynote Speakers Include:
- Mr. Philippe Danjou, Member of International Accounting Standards Board (IASB)
- Mr. Pierre Delsaux, Director of Free Movement of Capital, Company Law and Corporate Governance Directorate at DG Internal Market Europe - European Commission
- Mr. Yao Feng, Deputy Director - General, Department of Accounting, China Securities and Regulatory Commission
- Mr. Jean Hilgers, Director and Treasurer, National Bank of Belgium (Central Bank and Business Register)
- Mr. Paul Madden, Program Director, Standard Business Reporting, Australian Treasury
- Ms. Daniele Nouy, Secretary General of the French Banking Commission (CEBS - banking supervisors and central bank)
- Mr. Mohandas Pai, Director of Human Resources, Infosys and Trustee of the IASC Foundation
- Mr. Carlos Montalvo Rebuelta, Secretary General of Committee of European Insurance and Occupational Pension Supervisors (CEOIPS)
- Mr. Hans van Damme, President of European Federation of Chartered Accountants
- Mr. Harm Jan Van Burg, Netherlands Standard Business Reporting Programme Director, Ministries of Finance and Justice
Business Executives and Finance Professionals will participate in unique workshops and forums to hear leading financial industry experts speak on:
- Why: governments are requiring XBRL for business reporting and how financial analysts, regulators, accounting professionals, and technologists are preparing their clients to comply with these government mandates
- What: tools and cost-effective solutions are being used to help organizations harness the power of XBRL to enable investors, management, analysts and regulators with limited knowledge of XBRL move forward with implementation to create, access and analyze data in a reliable format that they can easily use and reuse.
- How: interactive data greatly improves the way in which business information is created, communicated and consumed to help investors, management, analysts and regulators increase transparency and make quicker, better and more accurate decisions.
Who Should Attend and Why:
- CEOs, CFOs and Finance Professionals of public and private companies will be educated on how to tag their financials in XBRL using cost effective vendors and understand the external and internal benefits of using interactive data through real users. They will hear from companies using XBRL to improve investor relations activities and from internal financial management teams using XBRL to consolidate financials and better manage the operations of the company.
- Investment Professionals and Analysts will learn from peers around the world how they are using XBRL to improve the depth and breadth of coverage of companies to help their clients make better investment decisions.
- Regulators will share how they are using XBRL to improve transparency efficiency and accuracy of regulatory reporting and hear case studies from government agencies successfully using interactive data.
- Software developers will be briefed on new tools and add-ons that can be used in their XBRL products that have been created from leading XBRL technology providers.
- Accounting and audit professionals will learn how XBRL is improving client relations by integrating XBRL into their practices and those of their clients.
Where: Le Meridien Montparnasse in Paris, France, a world-class conference and exhibition facility located at 19 Rue du Commandant Mouchotte, Paris 75014
For XBRL International Conference Information and sponsorship opportunities:
Those registering during the “early bird” period will receive a discount on admission to the conference, plus a complimentary ticket for the River Palace Cruise Gala Dinner and Reception (limited seating).
MEDIA CONTACT:
XBRL International Media Relations:
David Colgren
+1 917 587 3708
14Apr09: ServerWatch.com
A Tidal Wave of Regulations to Hit IT Shores
By Paul Rubens
"...There are three likely strands to the new regulations when they do arrive:
- A strong push for greater transparency in corporate governance
- A more standardized global set of accounting practices
- A push toward XBRL (eXtensible Business Reporting Language.)
In the medium term Bace said XBRL will provide a way for companies to publish real-time information on their business activities, and it's also something that could have a huge impact on IT department activities..." >> link to full story
30Mar09: The Wall Street Journal
Transparency Is More Powerful Than Regulation.
FDR sided with advisers who argued for disclosure.
By L. Gordon Crovitz
"...The good news is that with the innovation of XBRL, tracking debt instruments is no longer a technological challenge. Instead, it's a political challenge..." >> link to full story
Includes Experts in Business Reporting, Accounting, Regulatory Reporting and Standard Setting
