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IRA to Participate in XBRL Conference in San Jose

November 10, 2005

Institutional Risk Analytics, a designer of customized financial analysis and valuation tools for risk managers, credit officers, auditors, corporate lenders, regulators and other financial decision makers, will be presenting at the XBRL Conference on January 18, 2006 in San Jose, CA.

XBRL, the Extensible Business Reporting Language, is an XML-based language used to describe business reporting information. XBRL is used for internal financial reporting and for quarterly and annual financial reports and US bank regulatory filings with the FDIC.

IRA Managing Director Christopher Whalen will speak on how adoption of XBRL by public companies and banks is enhancing the quality of data input and output, enabling more efficient analysis of financial statements.

"As global banks move forward with the New Basel Capital Accord (Basel II), structuring financial data in machine readable formats such as XBRL will become a necessary condition of success for both the institutions and their regulators," says Whalen, who edits IRA's research products. "Investors and risk managers will also benefit from this trend."

The event is organized by XBRL-US, the US jurisdiction of the XBRL International consortium, an organization with over 350 member organizations worldwide who are working to develop and promote the adoption of XBRL. IRA is a member of the US jurisdiction of the XBRL International consortium.

The meeting will be hosted by Adobe Systems at their headquarters in San Jose, CA. Additional information about the event, including registration information, is available in the program brochure .

The Securities and Exchange Commission recently established a Voluntary Filing Program to allow public companies to submit their filings in XBRL along with their official ASCII text or HTML. A copy of SEC Chairman Christopher Cox's comments at the just-concluded 12th XBRL International Conference in Tokyo is available.

"One of the big advantages of XBRL is that is enables machine-to-machine transfer of financial information in a way that preserves the structure of the data and the diligence chain back to the source," notes IRA CEO Dennis Santiago. "As financial regulators, exchanges and companies themselves adopt XML-based standards for sending and receiving financial data, analysts will be able to perform more and more of their work using "as filed" data, employing the power of relational databases instead of hand-built models on spreadsheets."