MONTVALE, N.J., Aug. 13 /PRNewswire/ -- The Institute of Management Accountants (IMA(R)) is pleased to announce that Brad J. Monterio, Managing Director of both Colcomgroup, Inc. and CMH Partners LLC, has been appointed to serve as a member of IMA's newly formed XBRL Advisory Committee for a one-year term. Mr. Monterio will participate in the committee's charge of furthering the development of XBRL (eXtensible Business Reporting Language) to enable management accountants to become more effective and efficient in a wide range of business activities. IMA () is the world's leading association dedicated to advancing the accounting and finance profession.

"As a leading authority on accounting and finance issues, IMA has a responsibility of keeping pace with the profession and the issues affecting its members. I congratulate Mr. Monterio for taking an active role in shaping the future of the profession through committee participation," said Jeff Thomson, IMA president and CEO.

IMA's XBRL Committee includes two working groups, the Outreach Working Group and the Taxonomy Working Group. The Outreach Working Group will manage internal advocacy and outreach about XBRL and provide communications to IMA members and other stakeholders. The Taxonomy Working Group will manage IMA's role in developing taxonomies and monitoring technical developments related to the global XBRL standard.

"As the Outreach Working Group Chair, I will be able to leverage more than a decade of experience with the international XBRL and accounting communities to help the Committee deliver on its mission," said Brad J. Monterio, Chair, Outreach Working Group of the IMA XBRL Advisory Committee.

IMA is an associate member of XBRL International, Inc. (), a worldwide consortium dedicated to developing, managing and maintaining the global XBRL standard for business reporting. IMA is one of the original founding members of the XBRL standard.

As Managing Director at Colcomgroup, Mr. Monterio directs the consultancy's marketing, strategic planning, communications and outreach on behalf of clients. He is also the Managing Director of CMH Partners LLC, a boutique investment bank based in New York serving the FinTech, CleanTech and MedTech sectors. Mr. Monterio is a member of the IMA.