Lack of Accuracy
In April 2009 a study of the North Carolina State University Department of Accounting College of Management evaluated the accuracy of XBRL filings for 22 companies participating in the SEC's voluntary filing program in 2006. Results of a comparison of XBRL filings to Forms 10-K revealed multiple errors in signage, amounts, labeling, and classification. The study considers that these errors are serious since XBRL data is computer-readable and users will not visually recognize the errors, especially when using XBRL analysis software.
Read more about this topic: XBRL
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