NEW YORK (August 15, 2018) – The American Institute of CPAs (AICPA) and XBRL US have found that the cost of XBRL formatting for small reporting companies has declined 45 percent since 2014, according to an updated pricing survey. EXtensible Business Reporting Language (XBRL) is a global data standard used for reporting business information in a computer-readable format.

Since 2009, public companies have been required by the U.S. Securities and Exchange Commission (SEC) to report their financials in XBRL format, and to assist in automating regulatory filings and business information processing which makes it easier for investors to analyze. Many companies, especially smaller ones, outsource their financial reporting filing process.

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