Jeff Diermeier appointed to XBRL board

CFA Institute president and chief executive Jeff Diermeier has been appointed to the XBRL US Board for a one-year term.
XBRL US is a group of organizations representing investors, the accounting industry, and service providers that is trying to raise awareness of XBRL, a computerized system for organizing and finding information in financial reports.
The system can be used to compare data among different companies.
The XBRL system “is an important development in the global capital markets that will greatly improve the transparency and accuracy of financial reporting and advance the valuation process,” said Mr. Diermeier.
XBRL is a financial reporting software system that stands for eXtensible Business Reporting Language.
The Securities and Exchange Commission, the International Accounting Standards Board and other securities regulators are developing systems to identify financial performance data that would be “tagged,” so that it can be compared with data from other companies for use by financial analysts and others.