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.