2005 XBRL quotes

Peter Derby, Managing Executive for Operations & Management, Office of the Chairman, U.S. Securities and Exchange Commission, in his remarks before the 11th XBRL International Conference:”Better, Faster, Smarter Business Reporting Using XBRL,” April 26, 2005, stated ”The benefits for XBRL for internal use have yet to be fully demonstrated. An organization looking at XBRL as a potential new format for regulatory reporting may not see the value in moving to the new standard. However, an organization utilizing XBRL to improve internal reporting and management capabilities will view external reporting in XBRL as merely a logical step in their integrated reporting process. I believe more needs to be done to demonstrate these internal benefits of XBRL to further its widespread use.”

Christopher Cox, Chairman U.S. Securities and Exchange Commission, Nov 2005,"XBRL holds the potential to revolutionize financial reporting and corporate disclosure worldwide. … The interactive data that XBRL data tagging makes possible can help everyone in this room achieve many of your different goals: keeping investors informed; minimizing your costs and improving your productivity as analysts; and managing your own companies better with real time management control information. SEC intends to be at the forefront of the reporting revolution promised by interactive data."