XBRL US releases second draft of GAAP taxonomies; consortium names new chairman of the 2008 board.

XBRL US, the nonprofit consortium for XML business reporting standards that includes founding partner AICPA, has released a second draft of the U.S. GAAP Taxonomies and common reporting practices, which were developed under a contract with the Securities and Exchange Commission. The XBRL US GAAP Taxonomies were first published for public review on Dec. 5, 2007, and this second release incorporates comments received through Jan. 18. The taxonomies and Preparers Guide on how to use them are currently available for ongoing public comment at http://usgaap.xbrl.us.

In addition, the consortium announced that Alfred R. Berkeley, chairman, Pipeline Financial Systems LLC, will lead its Board of Directors in 2008. Prior to joining Pipeline Financial Trading, Berkeley was president and then vice chair of the Nasdaq Stock Market, Inc. and brings 30 years of experience in the financial services industry doing...