SEC moves to accept Inline XBRL

The 13th of June 2016, the SEC announced a voluntary program allowing firms it regulates to use Inline XBRL (or “iXBRL”). The SEC has told to US listed companies that they can file their quarterly and annual financial statements in Inline XBRL. The change is effective immediately.

This is, a “voluntary, time limited program to assess the usefulness of this new filing format” through to 2020. It is a chance for the Commission, filers, the software industry, filing agents and users to assess the utility of iXBRL in the US context.