Forty-one per cent of US CFO's unaware of XBRL

Source: Grant Thornton

In a national survey of CFO's and senior comptrollers conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International, only 59% of CFO's aware of XBRL, but half believe it will be a mandatory SEC filing format.

"It's good to see that there is an increased amount of awareness and level of expectation," said Dan Roberts, immediate past-chair of the XBRL-US Steering Committee and the national director of assurance innovation at Grant Thornton.

Key XBRL findings:

Are you aware of eXtensible Business Reporting Language (XBRL), the new standard for tagged business information?
  • Yes - 59.70 %
  • No - 40.30 %

Has the accounting industry adequately communicated the benefits of XBRL for internal as well as external financial reporting?
  • Yes - 13.43 %
  • No - 85.07 %

Do you think Chairman Cox's focus on Interactive Data (the SEC's code word for XBRL) will result in XBRL becoming a mandatory format for SEC filings?
  • Yes - 50.75 %
  • No - 39.55 %

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