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Ready of Not, Here Comes XBRL

Please note: This item is from our archives and was published in 2008. It is provided for historical reference. The content may be out of date and links may no longer function.

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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.