Risk management and compliance software provider Movaris has joined XBRL International -- the nonprofit consortium of roughly 350 companies working toward the development and support of the Extensible Business Reporting Language.
As a consortium member, Movaris will lend technical development assistance while working to integrate its flagship OneClose product with XBRL.
XBRL is a technology that tags financial information through disparate applications and carries it through the business reporting chain.
As part of its voluntary program for receiving financial information using XBRL, the SEC issued a request for information from the software industry in October, to assist the SEC staff in identifying ways to receive, store, view and analyze interactive financial data.
Seperately, the SEC announced that the deadline for companies to join an interactive data test group has been extended until March 10, in response to requests for more time from potential participants.
The test program was first announced on Jan. 11, and SEC staff will offer expedited reviews of registration statements or annual reports to registrants in exchange for their participation. The agency believes that interactive data can one day make possible the transformation of static, text-only documents into dynamic financial reports that can be easily accessed and analyzed.
Interested companies can contact Jeffrey Naumann in the Office of the Chief Accountant (
