Comments on: XBRL: Short-Term Costs Will Yield Long-Term Benefits – Part II http://hitachidatainteractive.com/2007/02/23/xbrl-short-term-costs-will-yield-long-term-benefits-%e2%80%93-part-ii/ XBRL News and Commentary from the Hitachi XBRL Business Unit Wed, 10 Mar 2010 05:20:53 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: rc whalen http://hitachidatainteractive.com/2007/02/23/xbrl-short-term-costs-will-yield-long-term-benefits-%e2%80%93-part-ii/comment-page-1/#comment-88 rc whalen Sun, 25 Feb 2007 13:38:13 +0000 http://blog.hitachixbrl.com/2007/02/23/xbrl-short-term-costs-will-yield-long-term-benefits-%e2%80%93-part-ii/#comment-88 I doubt that the SEC will mandate XBRL anytime soon. Aside from the legal issues, namely that the Commission does not have the authority to tell filers to employ XBRL for disclosure required by the Securities Act of 1933, the lack of "pull" from the filer community is a major obtacle. Historically, the SEC has not embraced new technolgies for EDGAR until they are in general use in the private sector. Aside from the vendor community, there is very little of such activity at this time. Indeed, I continue to think that public sector adoption (excluding the SEC example) is the brightest area for the growth of XBRL. All of the examples of "wins" to date are in the public sector. Eventually even the XBRL community must take notice of this fact. This is not to say that adoption by the private sector is DOA, but it certainly does not seem to be generating much attention outside of the XBRL community at the moment. Perhaps the marketplace is trying to tell us something. I doubt that the SEC will mandate XBRL anytime soon. Aside from the legal issues, namely that the Commission does not have the authority to tell filers to employ XBRL for disclosure required by the Securities Act of 1933, the lack of “pull” from the filer community is a major obtacle. Historically, the SEC has not embraced new technolgies for EDGAR until they are in general use in the private sector. Aside from the vendor community, there is very little of such activity at this time.

Indeed, I continue to think that public sector adoption (excluding the SEC example) is the brightest area for the growth of XBRL. All of the examples of “wins” to date are in the public sector. Eventually even the XBRL community must take notice of this fact. This is not to say that adoption by the private sector is DOA, but it certainly does not seem to be generating much attention outside of the XBRL community at the moment. Perhaps the marketplace is trying to tell us something.

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