SEC Extends Qualifications for SRC’s and Scaled Disclosures

By | 07/20/2018 | 7:57 pm ET

The Securities and Exchange Commission (SEC) expanded the number of companies that qualify as a “smaller reporting company” (SRC) and the existing scaled disclosure accommodations for these SRC’s. The SEC estimates that approximately 1000 companies will now qualify for the scaled disclosures. Scaled disclosures enable companies to provide less information, specifically for executive compensation and only submit audited financial statements for two fiscal years, compared to the three fiscal years…

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SEC Passes Inline XBRL

By | 07/20/2018 | 7:52 pm ET

In a 4-1 vote on June 28, 2018, the Securities and Exchange Commission (SEC) voted to adopt several amendments to the existing XBRL reporting requirements. Instead of the existing requirements which mandate that companies submit XBRL exhibits along with their HTML filings for quarterly and annual financial statements, companies can now submit Inline XBRL filings. Instead of a dual filing system with both human and machine-readable filings, companies are now…

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