Tech companies protest XBRL proposed exemption

05/28/2014 | Accounting Today · Accounting Today

A group of financial tech companies -- including Edgar Online, Calcbench, Enigma, FindTheBest and Tagnifi -- have sent a letter to the House Financial Services Committee outlining their objections to a measure that would exempt certain companies from filing financial statements in eXtensible Business Reporting Language. The legislation, which would apply to companies with less than $250 million in annual revenues, passed in the committee but not yet in the House. Separately, the XBRL International Standards Board is creating a global working group to standardize the distribution of corporate action events.

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