Errors Made in XBRL Filings with the SEC

Now that Canadian firms listed with the SEC are required to file in XBRL, it is useful to consider the kinds of errors that other firms have made with their XBRL filings. Some errors are more common than others.

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Regulatory Use of XBRL

Regulators around the world use XBRL for their filing requirements. One of the first was the SEC in the United States. Now most regulators require it.

 

Corporate Actions

Corporate actions includes events like dividends, stock splits, mergers, rights, options etc. Such actions are announced by companies through news releases, prospectuses, regulatory filings and more frequently lately, social media, particularly Twitter.

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