Increased Government Regulations. What Do They Mean For You?

Rivet Software exposes how XBRL will hold corporations accountable and empower the public at South by Southwest® Conference

Mar 11, 2011, 07:15 ET from Rivet Software

DENVER, March 11, 2011 /PRNewswire/ -- Many people are aware of the existence of XBRL, and some may even know that the Securities and Exchange Commission (SEC) and other regulatory agencies have mandated its use. But how well is the general public informed on the boundless power and widespread applications of XBRL for financial reporting (and beyond)?

"Our goal at SXSW this year is to advance the discussion about sustainability reporting and the power of XBRL application beyond just financial reporting," said CEO Patrick Quinlan.

Rivet Software is presenting two SXSW panels during the interactive conference focusing on increased government regulations over U.S. corporations and the benefits of more transparency. The SEC has already set higher transparency standards for public companies. Upcoming regulations will mandate new ecological standards for corporations. The two panels are:

Corporate Sustainability: Reporting & Transparency, Sunday, March 13th at 5pm, CC Room 10AB.  According to a recent international survey in Corporate Responsibility Magazine, nearly 70% of companies surveyed admitted they couldn't measure the impact of their "green" initiatives. Sustainability reporting that integrates financial and non-financial data to deliver a more complete view of the business is one solution. Learn more about the new standards being developed to create integrated sustainability and financial reports to give a clear picture of a company's overall performance. Panelists include: Erin Meezan of Interface, Inc., Greg Janecek of ReddWerks, Philip Winterburn of Rivet Software, Jill Warren of The Patriot Group.  Jay Whitehead of SharedXpertise Media will moderate the panel.  

Power to the People: Regulating Big Business. Monday, March 14th at 3:30pm at the Hilton Salon D.  Since 2007, assets have been frozen in companies, large companies are more vulnerable, and the SEC mandated in 2008 that all public companies must file their public disclosures in XBRL by 2011. XBRL is the eXtensible Business Reporting Language – a way of marking up a document so it is machine readable and instantly available for research. Other countries have already required this sort of transparency from companies to limit fraud. People have the real power in today's new, transparent age; let's talk about how to seize that power. Panelists include: Michelle Leder of Footnoted.org, Gary Thompson of CLOUD, Inc., Eric E. Cohen of PricewaterhouseCoopers, and Jordan Woodward of Rivet Software.

To arrange for an in-person interview at SXSW, contact Heather Carmichael, 512-585-9508 or hcarmich@kelleherinc.com

Possible interview topics:

  • How can XBRL be applied beyond financial reporting?
  • How can we change how businesses hold companies responsible for their commitment to non-financial metrics?
  • How are government agencies utilizing XBRL to oversee activities like government spending?
  • What role does XBRL play in corporate transparency and avoiding future bailouts by empowering the people?

About Rivet Software: Founded in 2002 and headquartered in Denver, Rivet Software is at the forefront of standards-based business reporting and analytics. Rivet empowers companies with control over the collection, analysis and dissemination of their internal and external financial information to help advance the transformation of business communication worldwide. This privately-owned technology company works with more Fortune 500 companies than any other XBRL vendor and emerged from Q4 of 2010 as the XBRL vendor of choice for companies in search of a cost-effective, reliable solution for SEC reporting compliance.

Available Topic Expert(s): For information on the listed expert(s), click appropriate link.

Patrick Quinlan

http://www.profnetconnect.com/patrick_quinlan

SOURCE Rivet Software



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