Cutting the Reporting Gap in a Post-XBRL World

October 6, 2011
Every quarter, SEC reporting teams sweat the period between their earnings release and the filing of their 10-Ks and 10-Qs. The longer that gap, the greater the chance that changes will need to be made and unforeseen issues will arise that cause the earnings release to be inaccurate. The pencils down period imposed by outsourced XBRL solution providers, where no additional changes are allowed in the days prior to filing, has added to the gap for many companies. My article, "Mind the Gap: Do You Really Have a Good Grasp on Your Reporting Exposure?" was featured in the September 2011 issue of Compliance Week. In this article I further discuss current reporting trends and how an increasing number of companies are adopting fully integrated SEC reporting solutions to address pencils down and to gain overall efficiencies in the reporting processes. How does your company approach the gap? Read my article to assess how your gap management stacks up.