This member survey was conducted to gauge the level of investment professionals’ awareness of XBRL technology and its application for delivering financial reports and other disclosures to end users.
On 12 June 2007, an e-mail invitation to a sample of CFA Institute members was distributed through InstantSurvey3 , inviting them to participate in the web-based survey. A total of 864 valid survey responses were received, for a response rate of 9.03 percent.
The results of this survey will help inform input provided to regulators and standard setters in response to proposed frameworks and applications of XBRL in delivering financial reports. In particular, this input will be communicated to the U.S. Securities and Exchange Commission (SEC) and other XBRL jurisdictions on their current XBRL development projects. The results also will provide guidance as the CFA Institute develops a position paper outlining the requirements of an XBRL system to achieve optimum accessibility and functionality for investors.