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SEC Calls Again for Corrections in XBRL Filings

SEC Calls Again for Corrections in XBRL Filings.

Patience with repetitive, simple errors in XBRL filings is wearing thin at the Securities and Exchange Commission.

“Limited liability applies only to filers who make good faith efforts to comply with the rules and who promptly correct errors when they are made aware of them.”

“They have widespread skepticism about the reliability or usability of the data,” she said, in part because they see how commonly it contains errors. “It harms their ability to analyze your companies accurately.”

Posted on Saturday, December 8, 2012 at 03:22PM by

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