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Mandatory XBRL use moved a step closer to reality with XBRL U.S. Inc.’s handover Friday to the SEC of the final drafts of the computer labels that make financial data interactive and increase its transparency. But that action was just a prelude to the anticipated imminent release of a proposed timetable for implementation of eXtensible Business Reporting Language by U.S. public companies. SEC officials have been hinting that a proposal requiring U.S. public companies to use XBRL could be introduced as soon as next Wednesday (May 14), when the Securities and Exchange Commission next meets to consider the future of XBRL. In a speech at a meeting of the American Bar Association last month, SEC general counsel Brian Cartwright predicted that just such a proposal would be released “in the near future.”

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