For SEC, tech switch spurs stock option probes

Investigations into "crooked accounting" take dramatic leap forward with combination of real-time reporting, programming language.

The story "For SEC, tech switch spurs stock option probes" published February 19, 2007 at 6:00 AM is no longer available on CNET News.

[Commander_Spock]

ISO's Certification of ODFS Timely!

In part this article states; "Separately, agency officials said at the conference that regulation should have a global perspective in which authorities engage with each other on international standards..."; then, quite obviously software applications bordering on the utilization of "databases and spreadsheets" and employed internationally by businesses, U.S. Securities and Exchange Commission (SEC) and other institutions would certainly find the International Organization for Standardisation (ISO) of the Open Document Format Standards (ODF) most timely, intuitive and appropriate!

[Commander_Spock]

Hence, "the utilization of "databases and spreadsheets"...

... that confirm to "open" international industry standards that are not influenced by any one company in the international marketplace for example - the Microsoft Corporation!

[satayboy]

not a programming language

XBRL is a file format, not a programming language.

[Commander_Spock]

How Does XBRL....

... being "a file format" as stated addresses the question of integration of with the XML File Format... While not sure if there is any integration processes involved between XBRL and XML (ODF...) as far as the SEC's procedures for the capturing, analyzing and management of data are concerned; can someone please say!

[Commander_Spock]

EUREKA!

"XBRL (eXtensible Business Reporting Language) uses XML-based data tags to describe financial statements for both public and private companies. As such it simplifies the electronic distribution of financial statements and other financial data, and enables business-reporting documents to become machine-readable and thus capable of supporting automated business processes.<br />Adoption of XBRL is gaining momentum around the world, as an increasing number of central banks, financial regulatory authorities, statistical bureaux and taxation agencies drive uptake."; So, when will "central banks, financial regulatory authorities, statistical bureaux and taxation agencies..." begin to review Economic and Technical data as it is presently the case of with "financial statements and other financial data"!!!