XBRL Canada Newsletter for April, 2014

You can download the newsletter here:
http://xbrl.ca/docs/newsletter/Apr_2014_Newsletter.pdf

And you can have yourself added to the distribution list here:
http://www.xbrl.ca

XBRL International Conference - June 9 - 11

The XBRL International Conference is scheduled for June 9 - 11 in Orlando, Fla. It promises to be a stellar event, with top level speakers and cutting edge topics in areas such as government and regulatory reporting, Standardized Business Reporting (SBR), corporate actions processing and corporate financial data.

Take a look at the program - and register today!

Standard Business Reporting - How It Works and Why It's Important

Date: May 14, 2014

Time: 12:30 PM ET

CPD credit: One hour (upon successful completion of the quiz)

This webinar is broadcast live on the above date and is also available on-demand shortly after the live event.

http://event.on24.com/r.htm?e=767088&s=1&k=78442D471EF69F159B688A0A286C41F0

Event Details:

This Webinar will feature Standardized Business Reporting (SBR) and explain its implications for Canada. SBR is a process under which the government would utilize XBRL for the filing of all reports with government departments and agencies, such as CRA, Statcan and OSFI. It has already been adopted in the Netherlands, Australia and other countries.

Our session is presented by Gianluca Garbellotto, who has been extensively involved in SBR implementations around the world and was a leader in the Australian implementation. He will explain why SBR is a major benefit to businesses because they can code data just once and use it for all filings, thus eliminating duplication of data and filing systems, therefore substantially reducing compliance costs.

CPA Canada has recommended SBR to the federal Government in its pre-budget consultations and the House Committee on Finance has included that recommendation in its report. Mr Garbellotto will explain how SBR fits with the major government program of Red Tape Reduction as well as the International Open Data Initiative, in which Canada is an important player.

We will delve into the experience of other countries, and show where the savings are found. It will go on to outline the methods used and what the instruments and taxonomies would look like. Attendees will gain a new insight into the directions that most countries in the world are heading in the management of data and data flows. 

Please note: we strongly recommend that you run the System Check to ensure you have a compatible version of Flash installed.

Data Act passes in the US

The Data Act has passed the Senate in the US and is expected to become law in the near future. The act requires government departments to disclose spending data in the form of structured data, which will enable better access and better comparability. While the act does not prescribe a particular standard to be used, it nevertheless sets out criteria such as the standard being internationally accepted, open and platform independent. XBRL meets all the prescribed criteria and has been adopted in several other countries, so it will be a strong contender for the standard to be used. For an article on this topic, click here.