The SEC established a program for registrants to voluntarily furnish XBRL data starting with year-end 2004 (SEC 2005a, 2005b). At the end of 2005, 22 filings had been submitted in XBRL format (SEC 2005c). In January 2006, the SEC began offering incentives for companies to participate in the XBRL filing program. Though PricewaterhouseCoopers predicted that XBRL would be the business reporting standard by 2008 (Cushing 2003), U.S. adoption has not been swift.