The Securities and Exchange Commission (SEC) is to hold a public seminar next month to help organisations prepare for the upcoming compliance of XBRL filing.

The 500 largest businesses in the US will have to make all corporate submissions to the SEC in eXtensible Business Reporting Language format from June this year.

Staff at the Securities and Exchange Commission will hold a public seminar in March to answer any questions on XBRL, the tagging system which allows investors and analysts quicker and easier access to information.

SEC staff will provide an overview of the XBRL taxonomy – the list of

tags associated with Generally Accepted Accounting Principles (US GAAP).

The seminar will also cover the recently announced role of the Financial Accounting Foundation (FAF) which will maintain the taxonomy.

The seminar will be held on 23 March 2010 at the SEC's headquarters as well as broadcast live through its website.