Moving Forward with XBRL: What Will it Mean for Canadian Companies?
XBRL Canada to host interactive discussion with industry experts September 24, 2008 in Toronto
TORONTO, ONTARIO--(Marketwire - Sep. 4, 2008) -
XBRL Canada, member jurisdiction of XBRL International, is set to discuss recent proposals by the U.S. Securities and Exchange Commission (SEC) for the mandatory use of “Interactive Data” or XBRL (eXtensible Business Reporting Language) during a morning event September 24, 2008 at the Metro Toronto Convention Centre.
The effect on several of Canada’s largest public companies and those dually-listed on Canadian and U.S. exchanges is sure to be felt, as the SEC’s proposed rule would require all Reporting Issuers to provide financial information using Interactive Data, beginning early 2009 for the largest public companies, and within three years for all other public companies reporting to the SEC – both Domestic and Foreign Issuers.
“There is little doubt that interactive data is our future, “says Gerald Trites, Project Director, XBRL Canada. “With adoption in its early stages, we still have a strong voice and can considerably affect the adoption process. We encourage investor relations officers, financial communications professionals, thought leaders and all those interested in XBRL to join us for this event and share their thoughts on what it means to business in Canada.”
Notable highlights of the morning include “An Introduction to XBRL Regulatory Filing”, hosted by Rob Blake, Senior Director, Interactive Services, Bowne & Co. and Liv Watson, IRIS India, as well as an interactive panel discussion by experts on Canada's move to International Financial Reporting Standards (IFRS) and the SEC’s voluntary XBRL filing program. The full agenda for the event is posted on the XBRL Canada website:
www.xbrl.ca/registration .
The afternoon session, held in the same venue, will be hosted by the Canadian Securities Administrators (CSA), and will discuss the SEC rule and the implications for the Canadian marketplace by way of a panel discussion and expert presentations by members of the SEC and the CSA.
There is no charge to attend this event. Continental breakfast and a buffet lunch will be provided to attendees. For registration, please go to
www.xbrl.ca/registration.
The XBRL Canada morning sessions are sponsored by the Canadian Institute of Chartered Accountants (CICA), Bowne & Co., and XBRLit.
About XBRL Canada
XBRL Canada is a not-for-profit consortium of leading Canadian companies and organizations, whose role is to create and maintain XBRL taxonomies based on Canadian reporting standards, to increase the awareness, knowledge and understanding of XBRL and its uses in Canada, and to stimulate and promote the adoption of XBRL in Canada.
For more information, please contact
XBRL Canada
Jerry Trites
Project Director
(416) 602-3931
Email: gtrites@zorba.ca
Welcome to XBRL Canada
