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I have a client who's a publicly traded corporation. As you might know, the SEC requires these corporations to display their statements online in an interactive format, based on XBRL format. See http://xbrl.sec.gov/ for information on this requirement.

I've looked through the JED, and can't find a component that can display these files. But since this is a requirement of the Sarbannes-Oxley act, I'd have to believe this is a common application. Does anyone know of such a component?

Thanks for any suggestions!

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Paul Srch
http://www.darkroasthosting.com

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I see a bunch of rules there on filing requirements.

Where are these rules which require display of "their statements online in an interactive format?"


EDIT: OK, I found some discussion about providing the info in the format,
but I still do not see anything about display of the info.
It looks like the info should be "available" and that means "for download" not display.

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██ AllMedia4Joomla Project
██ http://sourceforge.net/projects/allmedia4joomla/
██ AllMedia YouTube Feed Gallery module released
██ Download: http://sourceforge.net/projects/allmedia4joomla/files/

Here's the key passage from the SEC regulation on this whole XBRL issue:



Here's the followup from my client:



So it seems as though most folks assume the filings must be interactive.
Regarding the link above, you'll need to go to that page, then click on SEC Filings in the left menu, then look at the 10-Q form filed on 10/28/2011.

Hopefully someone will be able to help. I'd hate to hate to write a component to handle this myself, although I'd be willing to give it a go if I had to.

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Paul Srch
http://www.darkroasthosting.com

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I think the attorney is in CYA mode.
And you know the other firm has a conflict of interest.

I read the original SEC announcement in that PDF they provide.
The goals of the XBRL initiative are to make the data standardized in a portable or easier-to-share format.
Interactive means able to easily use the data for analysis, sharing, re-use, etc.

No one is going to "interact" with the data displayed on the website other than to read it.
To actually use the data for analysis they have to import it - this is where a standardized format is important.

A little background . . .
I am a former CPA who right out of college went to work for the largest CPA firm in the world (at that time, KPMG).
Later worked for a fortune 500 company in the financial reporting department.
We did the 10K, 10Q, 8K, proxy, and prospectuses (we did a $50 million euro-bond offering while I was there).
The accounting dept., who did the number crunching, was in another city.
We did all the highly regulated "legal" accounting stuff.

I still have the box of SEC regulations which sat on my desk back then (which were consulted frequently).
Bowne, the financial printers, gave me a free subscription (we spent lots on printing).

So, I can tell you I see nothing in the info from the SEC which would cause me to be concerned about displaying an XBRF file.
All the examples I have seen are processing the XML and displaying it as HTML.
How does that provide any interactivity?
That's just nonsense.

The interactivity comes from providing the XBRF file so they can access the data any way they want.
And/or the XLS file if that makes it easier for them.

Some companies also provide Word files and PDF files.
Not real interactive, but useful for many.

The SEC goal is make the data flow easier by using structured data.
That does not seem to have anything to do with displaying HTML on a website.


p.s. Usually when there is confusion about a particular rule or regulation,
the SEC will eventually publish something in the Federal Register to clarify.
That is where I would look first.

They can also be quite helpful if you call (and get the right person).
Why not simply ask them?
I am sure you and your client are not the only ones dealing with this issue.
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_________________
██ AllMedia4Joomla Project
██ http://sourceforge.net/projects/allmedia4joomla/
██ AllMedia YouTube Feed Gallery module released
██ Download: http://sourceforge.net/projects/allmedia4joomla/files/

Well, the upshot is that you're right - after checking with another attorney, the only thing we need is to have them available for download on the site. The other company was obviously trying to do an "upsell" by scaring my customer.

Thanks for all your help!

_________________
Paul Srch
http://www.darkroasthosting.com

That is correct. The SEC requires only that files be posted on the corporations web site, if they have it,so that a visitor can download them. The corporate web site cannot link to the SEC web site for display of XBRL files. The company is also not required to provide a viewer - the user has to acquire that.

For an example, take a look at IBM's filings. They add a note to thir filings and corporate web site in regards to this.

We also provide the module along with our XBRL service, but we let clients know thst they need no more than to upload the files.

I'm also looking for a Joomla component or extension that will handle XBRL. Any progress?