Washington (June 18, 2003) -- The federal government has awarded a $39 million contract for reporting system modernization at the Federal Deposit Insurance Corporation, which will incorporate XBRL, the Internet-based reporting language for business reports.

The contract is by far the biggest step forward for XBRL, which has been under development since 1998 by a consortium led by the American Institute of CPAs. "This is truly a milestone that will hopefully lead to even wider acceptance of XBRL," said Louis Matherne, the AICPA's director of business assurance and advisory services and president of the XBRL International consortium.

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