Ready of Not, Here Comes XBRL


Despite the SEC-proposed mandate that all public companies adopt XBRL by 2011, a Compliance Week survey found that few are prepared for implementation.

Of the 236 publicly held companies surveyed, nearly 80% said no member of their staff is well-versed in XBRL, and 15% said they had no knowledge of XBRL at all.

Forty-four percent of the respondents said they just started researching XBRL and have done no previous testing.

Source: Compliance Week, www.complianceweek.com.

SPONSORED REPORT

2019 State of Financial Reporting Survey

We surveyed nearly 600 finance and accounting professionals on their month-end close and reporting processes. See the results.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.