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XBRL Canada Newsletter – May 2017

May 25, 2017

Section 1 – SEC recognizes IFRS taxonomy On March 1, 2017 the SEC announced that it has posted the IFRS taxonomy on its website. This long-awaited event means that all Canadian companies who file with the SEC as a foreign direct issuer and use IFRS must file their financial statements in XBRL format. On January 30, […]

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

April 11, 2017

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 […]

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Canadian Companies Filing with SEC To File in XBRL This Year

March 2, 2017

On March 1, the SEC released a notice to announce that it has posted the IFRS taxonomy on its website. This means that All Canadian companies who file with the SEC as a foreign direct filer and use IFRS must file their financial statements in XBRL format. There are over 300 such companies in Canada. […]

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iXBRL – How it Really looks and feels

January 6, 2017

XBRL International has added a new page to its website providing examples of statements coded in iXBRL. They show clearly how it is human readable – in fact looks exactly the same as any other financial statement – and also, how the embedded XBRL component can be shown and used. A few moments on this […]

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ESMA to require iXBRL effective Jan 1, 2020

December 21, 2016

The European Securities and Markets Authority (ESMA) has today published a feedback statement setting out the digital format which issuers in the European Union (EU) must use to report their company information from 1 January 2020. It concludes that Inline XBRL is the most suitable technology to meet the EU requirement for issuers to report […]

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iXBRL Going Mainstream

November 28, 2016

eXtensible Business Reporting Language is becoming mainstream as costs stabilize, data quality improves and investor analysis capabilities expand substantially. Recently the SEC approved the use of iXBRL for filings. iXBRL combines HTML with XBRL to result in filings that are easily readable by humans but with all the XBRL codes built in. It is hoped that this […]

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IFRS Foundation Releases Common Practice Guide.

September 21, 2016

In August, 2016, the IFRS Foundation released a guide to the common practice content to the IFRS Taxonomy. The guide is directed to help users and those who comment on the taxonomy updates to gain a better understanding of the nature of that content and the objectives of the periodic updates. This guide is of […]

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Australian Tax Office says Savings from SBR total over 1.1 Billion

September 20, 2016

The Australian Taxation Office’s latest figures show a dramatic uptick in business take-up of SBR, particularly in the superannuation industry where it promises the greatest return. Data audited by Deloitte Access Economics shows the scheme saved business and government $400 million in 2014-15, with 15 million transactions pushed through SBR-enabled systems. The ATO is still getting […]

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Numbers of Companies Filing with XBRL Continues to Grow around the World

July 29, 2016

Approximately 25,000 companies now file with their securities regulators using XBRL – most of which are in the US, Japan, China and India. This is only part of the story, as several other countries require the use of XBRL for securities filings with regulators and other organizations. For example, some 10,000 companies file XBRL in […]

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