October 18, 2010 – U.S. corporations are making mistakes when it comes to tagging their financial reports in the eXtensible Business Reporting Language: 18,895 in the two years the Securities and Exchange Commission’s requirement to use XBRL tags has been in effect.
That 18,895 figure isn’t huge considering the 1.6 million items that had to be tagged, says XBRL US, the U.S. arm of XBRL International. XBRL US has helped the SEC set up the tagging taxonomy and is the organization that counted the errors, in a review.
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