SEC© Seeks Contractor to Help Develop Inline XBRL

Compliance Week
Author: Tammy Whitehouse

The Securities and Exchange Commission is actively seeking a contractor to help develop an inline XBRL software solution.

In an attempt to improve the quality of XBRL filings, the SEC© believes that developing Inline XBRL will make it easier and more efficient for filers to input tags into a traditional document. Inline XBRL is a technology that allows a company to input XBRL tags into a traditional document filing, eradicating the need for companies to submit a traditional financial statement and an XBRL financial statement in separate filings. The SEC© request for proposals indicates that the government is willing to take the XBRL into the next stages of efficiency and standardization. For more information on the RFP, please click here.