The “Office of Interactive Disclosure” has been set up by the US SEC to facilitate the adoption of XBRL by US companies, with a view to making disclosure via XBRL mandatory by the end of next year.
SEC chairman Christopher Cox says “Helping improve our capital markets through lower-cost, faster, and more useful information is the heart of this mission”.
A good analysis of the ramifications for US disclosure appears by Dominic Jones. Many of this blog’s readers are aware of XBRL and are ready to unleash the wild beasts of the audit department when it nears mandatory adoption. Take this as a heads-up.