Securities regulators launch XBRL voluntary filing program

    TORONTO, May 28 /CNW/ - The Canadian Securities Administrators (CSA)
announced today the launch of the eXtensible Business Reporting Language
(XBRL) voluntary filing program. The voluntary program will help the Canadian
marketplace gain practical knowledge and experience preparing and using
financial statements in XBRL format.
    XBRL is an emerging business reporting language designed to make it
easier for investors and analysts to quickly access data and analyze
information from a greater number of companies. When using XBRL, "tags" are
assigned to pieces of data, and these tags provide information about what the
data represents. For the voluntary program, the pieces of data are the content
of financial statements, such as revenue or net income.
    "We believe this technology will be a great step forward in helping
investors analyze financial information," said Jean St-Gelais, Chair of the
CSA and President & Chief Executive Officer of the Autorité des marchés
financiers (Québec). "We are confident that the Canadian marketplace will
recognize the benefits to investors of filing in XBRL format."
    The CSA will make the XBRL financial statements available to the public
through SEDAR.com. The website links to the CSA's XBRL website, which contains
more information about XBRL and the voluntary program. Issuers wishing to
participate in the voluntary program should contact one of the CSA staff
members listed on this website:
    www.csa-acvm.ca/html_CSA/xbrl.html.

    The CSA, the council of the securities regulators of Canada's provinces
and territories, co-ordinates and harmonizes regulation for the Canadian
capital markets.

For further information: Laurie Gillett, Ontario Securities Commission,
[phone]; Andrew Poon, British Columbia Securities Commission, (604)
899-6880; Tamera Van Brunt, Alberta Securities Commission, [phone];
Ainsley Cunningham, Manitoba Securities Commission, [phone]; Frédéric
Alberro, Autorité des marchés financiers, [phone]; Jane Gillies, New
Brunswick Securities Commission, [phone]