NU Online News Service, April 19, 2004, 2:04 p.m. EDT – Technology experts will be talking about XBRL, a new standard format for accounting data, at the upcoming ACORD-LOMA Insurance Systems Forum.[@@]
The Association for Cooperative Operations Research and Development, Pearl River, N.Y., is helping LOMA, Atlanta, organize the forum, which will run from May 23 to May 25 in Las Vegas.
The American Institute of Certified Public Accountants, New York, started XBRL International in 2001 to develop XBRL, an XML-based standard for formatting corporate financial data. The standard is supposed to help computers share financial information without the need for custom programming or human intervention.
XBRL backers hope the standard will make it easier for computers to share financial information.
XBRL International started an insurance working group, Insurance GAAP Insurance Statutory, in 2003, ACORD says.
“In recent months, XBRL and ACORD have worked on issuing a joint white paper, explaining their particular places in the industry and data flow,” ACORD reports in a notice about the XBRL forum session.
Speakers scheduled to participate in a 2-part forum session on XBRL and other financial reporting standards issues include Don Gaskill, director of the financial surveillance division at the Kansas Department of Insurance; Mike Willis, founding chairman of XBRL International; James Dreyer, an insurance compliance expert from PricewaterhouseCoopers L.L.P., New York; and Paul Penler, an XBRL expert from Ernst & Young L.L.P., New York.