The past 18 months have seen the exodus of a number of the original SEC Office of Interactive Disclosure (OID) team members: David Blaszkowsky to the U.S. Treasury, Jeff Naumann to Deloitte, Ted Uehlinger to PwC and Tony Mealey to the PCAOB. For those that don’t remember, OID was the name given to the initial hires made by the SEC that focused on XBRL. At this time, all that essentially remains of OID is the “Contact Us” information listed on the main SEC XBRL web page.
To me, the reality of these key personnel departures was less a sign of trouble and more a sign of XBRL support and focus within the SEC walls “maturing”. However, the latest departure may hurt just a bit more as the SEC XBRL Chief Cheerleader (unofficial title…;o), Mike Starr, resigned as deputy chief accountant to join a software company focused on the XBRL space. The reason for this potential pain is that over the past two years, no one at the SEC has spoken publicly about XBRL more than Mike. He has continually championed the SEC XBRL value proposition in general, and use of the technology specifically at the SEC, to anyone that would listen.
BLAKE’S TAKE: While the SEC operationally appears to continue to look to use and promote XBRL (see new Dodd-Frank Form SD XBRL-based taxonomy), losing The Voice of SEC XBRL will only continue to establish doubt in public companies about the seriousness the SEC has around XBRL going forward..
Final note on topic, prior to his resignation, Mike was scheduled to be the Keynote Speaker at XBRL US’ conference next week in Austin. Given his role change to industry, I’m thinking XBRL US could be trying to find a new keynote speaker. If you’re interested in keynoting or planning on being in Austin, stop by the Trintech booth #111 to say hey and see first-hand how Cadency Complete helps companies bring effectiveness and efficiency to the financial disclosure process.
Can’t make the event and feel left out? BLAKE’S TAKE will be your source for live action straight from the conference floor. Stay tuned!