 | While external drivers such as the compliance mandate, drove much of XBRL adoption in the early part of 2011 (as cited by 55% of the respondents in the “Enabling Compliance and Business Improvements through XBRL” report in April 2011). Internal drivers such as executive orders to improve data quality (42%), demand to improve staff productivity (30%) guided adoption of XBRL and other financial disclosure management tools, drove adoption in the latter part (Q3 and beyond) of 2011 (as per the August study, entitled Effective Disclosure Management: Ensuring Compliance and Improving Organizational Communication). XBRL adoption in 2012 continues to move along this trajectory with one key difference - companies are now looking beyond basic capabilities of financial reporting and towards expedited information delivery, leveraging fewer resources, and reducing operational costs. Request Free! |
