Securities and Exchange Commission: Interactive Data To Improve Financial Reporting
GAO-09-389R: Feb 25, 2009
- Full Report:
GAO reviewed the Securities and Exchange Commission's (SEC) new rule on interactive data to improve financial reporting. GAO found that (1) the final rule requires companies to provide financial information in a form that is intended to improve its usefulness to investors; companies are required to provide their financial statements to the Commission and on their corporate web sites in an interactive data format; and (2) SEC complied with the applicable requirements in promulgating the rule.