SEC chairman Christopher Cox has become synonymous with many things, and XBRL is certainly one of them. But has his high-profile involvement hampered the implementation process?
Some are concerned that the presence of a well-known politician plugging away for a cause can mean only one thing: costly Sarbanes-Oxley-style implementation. In Japan, there was little mention of any particular policymaker with reference to XBRL adoption. The move to XBRL was, in fact, framed as a technological decision.
This has led some to suggest the passage to XBRL adoption could have been smoother in the US if the transition had been presented as a technological decision rather than a key part of Cox’s legacy to US corporate culture.