Reminder: XBRL Canada to host Webinar discussing SEC Announcement requiring XBRL for IFRS Reporting Issuers

Toronto, Ontario--(Newsfile Corp. - May 9, 2017) - XBRL Canada will be hosting a webinar on May 24th, 2017 to discuss the United States Securities and Exchange Commission's (SEC) announcement requiring Foreign Private Issuers (FPIs) that report using International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) to file their periodic reports using XBRL.

On March 1, 2017 the SEC published a taxonomy on its website to enable FPIs that prepare their financial statements in accordance with IFRS to tag those reports using XBRL.

FPIs that prepare their financial statements in accordance with IFRS as issued by the IASB may begin immediately to submit their financial statements in XBRL. Otherwise, all such FPIs must submit their financial statements in XBRL for fiscal periods ending on or after December 15, 2017.

XBRL Canada will host an information session providing an introduction to XBRL and provide an overview of the reporting requirements for SEC Reporting Issuers affected by this announcement.

The Webinar will feature Walter Hamscher and Matthew Slavin from the Division of Economic and Risk Analysis at the SEC, as well as John Turner, CEO of XBRL International.

The Webinar will be held on May 24, 2017 at 2 PM ET. Registration for the event is available at http://www.newsfilecorp.com/XBRL/ifrsXBRLWebinarXBRLCanada.php

About XBRL Canada

XBRL Canada is the Canadian jurisdiction of XBRL International and largely funded and administered by CPA Canada. The purpose of XBRL Canada is to provide support and encouragement for the adoption of eXtensible Business Reporting Language in Canada. XBRL is widely used around the world and recognized as the leader in advanced electronic business and financial reporting.

To strive towards its goals, XBRL Canada holds seminars and webinars and issues various publications, including its bi-monthly Newsletter. It also leads projects to test and explore XBRL usage in various settings.

For further information, please contact: XBRL Canada, Gerald Trites, Project Director, (416) 602-3931, Email: gtrites@cpacanada.ca