Inline XBRL, Explained
In a recent episode of the Financial Executive Podcast, Mike Westfall spoke with SEC and XBRL industry professionals about the impact of the Security and Exchange Commission's (SEC) new Inline XBRL requirement, the benefits and challenges of implementation and how preparers can get ready for the transition.
Among the interviewees was Mike Starr, Workiva Vice President of Governmental and Regulatory Affairs, who weighed in on the effort and resources needed to adapt to the Inline XBRL ruling.
The Inline XBRL requirement was announced June 13, 2016. A Workiva customer was the first to file with the SEC on July 1, 2016 using Inline XBRL, less than three weeks after the announcement. To date, 192 of Workiva's more than 3,000 customers have used Inline XBRL. There've been 674 filings with the SEC in total, and 479 of those have been Workiva customers.
Listen to complete podcast here.
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