US SEC announces the use of iXBRL
The 13th of June, the SEC announced a voluntary program allowing firms it regulates to use Inline XBRL (or “iXBRL”).
In a press release, accompanying exemption orderand updated Edgar Filing Manual, the SEC is telling US listed companies that they can file their quarterly and annual financial statements in Inline XBRL. The change is effective immediately.
This is, a “voluntary, time limited program to assess the usefulness of this new filing format” through to 2020. It is a chance for the Commission, filers, the software industry, filing agents and users to assess the utility of iXBRL in the US context.
More information and notes by John Turner CEO of XII at https://www.xbrl.org/briefing-sec-shift-to-ixbrl/