Regulators in other countries might be interested in the speech by the SEC's CIO, Corey Booth. Booth talked about the challenges of managing electronic filings of the 15,000+ issuers registered with the SEC at the 13th XBRL International Conference this week.
The SEC has used the EDGAR system for years to allow for electronic filing of periodic reports, proxy statements, 8-Ks, Section 16 reports and registration statements. The SEC is testing a voluntary XBRL filing program as part of its move toward interactive data.
Other countries such as the UK are already experimenting with XBRL reporting of tax information. The Tokyo Stock Exchange has also announced a plan to introduce an XBRL reporting system. A full XBRL project list is available here.
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