Following the lead of the SEC’s voluntary XBRL program success last year, the CSA has introduced a similar XBRL voluntary filing program effective May 2007. 

Reporting issuers participating in the voluntary program will file financial statements in XBRL format on SEDAR. Under the current continuous disclosure requirements, these issuers must also continue filing their official financial statements in PDF format on SEDAR. The CSA will make the XBRL financial statements available to the public through the SEDAR website at www.sedar.com.

I think it’s great that Canadian regulators (and SEDAR) are putting this program in place. With continued worldwide support for xbrl and electronic disclosure it’s important for Canada to continue to evolve and remain competitive. This effort has been put in place as a follow up to CSA’s XBRL survey from June 29 to September 30, 2006. They received 150 responses from various stakeholders, including accountants, investors and analysts.

If you don’t know about XBRL you can learn more here:
www.xbrl.org
www.xbrl.ca
www.sec.gov/spotlight/xbrl.htm
 
And for more details on the program check the OSC posting or BCSC web sites.

Technorati Tags: Securities Regulation, XBRL, Investor Relations, OSC, BCSC, CSA, Corporate Reporting, Electronic Disclosure, e-disclosure

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