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CFOs: Poor XBRL Info From Accounting Industry April 24, 2007 (SmartPros) In a national survey of CFOs and senior comptrollers, 85 percent of respondents say the accounting industry has failed to adequately communicate the benefits of XBRL for internal and external financial reporting. The Grant Thornton LLP survey also found that while 59 percent of CFOs are aware of eXtensible Business Reporting Language, a large chunk -- 41 percent -- are not aware of the new standard for tagged business information. Finally, 51 percent responded "yes" to the question, "Do you think Chairman Cox's focus on Interactive Data (the SEC's code word for XBRL) will result in XBRL becoming a mandatory format for SEC filings?" 2007 SmartPros Ltd. All rights reserved. |
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