SEC implements CompSci XBRL technology
02 January 2008 | 1939 views | 0
Source: CompSci Resources
CompSci Resources, a leading provider of financial and regulatory software applications, announced today that its proprietary interactive XBRL technology was implemented by the U.S. Securities and Exchange Commission (SEC) to display executive compensation data from 500 of the largest American companies.
CompSci designed and engineered a unique system that extracts summary compensation data from SEC filings, converts the filings into XBRL instance documents, and dynamically renders the XBRL filings into a readable format using its interactive web-based technology known as "iA (TM)."
"The SEC has been a leader in advocating the use of interactive data or XBRL to electronically report business and financial data in a standardized format," said Michaela Blondell, president of CompSci. "Through the use of our interactive data tool, CompSci will bring the power of interactive data not only to sophisticated financial professionals but also to the average investor. We aim to develop technologies that will leverage the power of XBRL and truly level the playing field in terms of having easy access to and the ability to use and share business and financial data. CompSci's iA (TM) technology which displays and analyzes electronically stored interactive data in real time and on demand is one giant leap in that direction."
CompSci's proprietary web-based technology enables regulators, financial professionals, investors, and any consumer of business and financial data to search for, retrieve, and analyze electronically stored XBRL data in real time and organize such data into easy-to-use and readable formats. CompSci's iA (TM) technology can be used with any XBRL 2.1-compliant data.