ROCHESTER, N.Y., April 27, 2016 /PRNewswire/ -- Novaworks announces today that President and CEO Scott Theis has been elected as Chairman of the XBRL US Domain Steering Committee.
Scott has been an active member of the Domain Steering Committee since 2010 and is greatly excited to be taking over as the Steering Committee Chair. "I see this as an important opportunity to help promote the use of XBRL in the US, and I am pleased and honored to lead the Committee in the coming year," Scott says. "For 2016, the Committee will be focusing on establishing general metrics for XBRL taxonomy development and approval. In order to promote more widespread XBRL use, we will also look to create resources to help third parties develop and deploy XBRL for a variety of purposes."
The XBRL US Domain Steering Committee provides tools and guidance to XBRL users, including companies, regulatory agencies, and consumers. A combination of accounting, financial, and technical XBRL skills is critical to the success of the Committee in its mission, and, as its Chairman, Scott will bring his decades of experience in financial reporting to drive the Committee towards its goals. Scott has also been involved with the design of document analysis systems, including the Operational EDGAR System. His level of expertise provides key insight into designing taxonomy metrics for XBRL.
Scott adds, "The potential application of XBRL's structured data format is almost limitless, and I'm looking forward to 2016 as a year where XBRL will be used more commonly as a format for data exchange."
The Domain Steering Committee meetings are open to members of XBRL US.
Novaworks is a top provider of EDGAR conversion and filing software and has been a member of XBRL US since 2010. The company's suite of products includes solutions for a wide range of EDGAR filers, with each application tailored specifically to provide clients — whether they are a compliance filer or perform a large number of EDGAR filings on behalf of other entities — with the tools they need. More information can be found at www.novaworkssoftware.com.