Accuracy essential to success of XBRL financial filing program

Courtesy http://www.eurekalert.org/rss/business.xml  Sun, 06/07/2009 - 22:00

(North Carolina State University) The largest 500 companies regulated by the SEC are poised to submit their first financial reports that will be tagged using XBRL code -- which allows computers to "read" content and find and analyze financial data.

However, a new study from North Carolina State University finds that XBRL filings submitted as part of an SEC pilot were flawed.

If these flaws aren't fixed, they will undermine confidence in the XBRL program from the beginning.

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