Dispatch from the FEI CFRI Conference
The XBRL mandate as well as the future of compliance reporting was in the air at FEI’s Current Financial Reporting Issues conference held Nov. 15-16 in New York City. WebFilings was a sponsor/exhibitor at the show, and our booth was jammed the entire show. We had terrific conversations with a wide variety of companies.
The most common thread of discussion was that SEC reporting teams are still figuring out the best way to comply with the SEC’s XBRL reporting mandate. In addition, most companies we spoke to are concerned about the growing resource demands of compliance reporting. As a result, they were interested in hearing how our single document datamodel approach to external reporting saves our customers time, ensures accuracy and enables them to handle their XBRL process in parallel with their report drafting. Read what our customers have to say about utilizing our External Reporting Solution.
We spoke with several filers who will be submitting their first XBRL reports next year, and were weighing out their options for Year 1 filing. And, we spoke with a number of companies who have already completed their first Year 2 XBRL filing and are looking for ways to do it better next time. For those interested, our archived webinars provide a great way to learn more about our solution, and our approach to XBRL, both for Year 1 and Year 2 filers.