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The SEC has been silent for years when it came to the quality of XBRL data.
Earlier this month, long overdue guidance began with a sample letter being sent to certain Issuers. The Division of Corporation Finance sent the following sample letter to certain public companies regarding their reports on Form 10-Q and the XBRL calculation requirement to include calculation relationships. In the letter, the SEC clearly states that acceptance of a filing by EDGAR does not mean that your filing is complete or in compliance with Commission requirements.
Do you have questions about the quality of your XBRL? Contact us to learn how our team of XBRL professionals can assist you. SecureXBRL is a professional services team staffed by U.S. based CPA’s and accounting professionals that work with you to ensure your XBRL documents are high quality and meet the SEC’s XBRL mandate.