Having been in the trenches with XBRL since it came on the scene, we’re pleased to announce the launch of our dedicated XRBL practice. Sure, it’s a business opportunity for us, but we believe we can go above and beyond. We’ve seen what companies are going through to comply, have a whiteboard full of best practices from phase-in groups, and we’ve helped our clients both do it right and benefit from it. XBRL is a necessary evil (sort of like SOX used to be), but with it comes the chance for companies to really take ownership of their data, and make sure their information is accurate, transparent and comparable to everyone who uses it.
Our chief XBRL guru is Lucy Lee, a newcomer to RoseRyan but an experienced hand at XBRL and compliance issues. She’s developed a six-step XRBL methodology, with quality assurance at its core, that we’ll use in every engagement. XBRL implementation is relatively new and still changing, but we stay on top of the rules updates and Edgar Filer Manual changes, including SEC guidance and most common errors. We can help with every aspect of XBRL implementation (not something everyone can claim), and when we’re done, we often leave companies with a more streamlined close and reporting process.