TORONTO, March 6 /CNW/ - XBRL Canada hosted its third annual conference
in Ottawa February 13-14, 2007, geared towards the public sector. Guest
speakers included representatives from the Ontario Securities Commission,
Canadian Institute of Chartered Accountants, U.S. Securities and Exchange
Commission and the Ministry of Finance of the Netherlands.
The conference, designed to help those in the public sector learn more
about XBRL and the adoption of XBRL in the public sector, concluded with a
presentation on the Canadian Taxonomy Project. The goal of the project is to
significantly reduce the cost of government filings for Canadian business and
the cost of internal reporting within government.
"It's apparent XBRL is gaining momentum in the capital markets and we
look forward to issuers participating in the voluntary XBRL filing program in
May, 2007," said Bill Swirsky, Chairman of XBRL Canada and Vice President,
Research and Development, Canadian Institute of Chartered Accountants.
The Canadian Securities Administrators (CSA) recently announced a
voluntary XBRL filing program beginning in May, inviting issuers to
voluntarily file financial statements in XBRL format. XBRL is a relatively new
business reporting language that is emerging as an international standard for
communicating business and financial data.
"We are prepared to assist our clients with the distribution and filing
of their XBRL documents," said Melanie Kurzuk, Senior Vice President, News and
Information Technology Division, CNW Group. "Our editorial system,
distribution network and regulatory filing channel are all XBRL ready."
To listen to the archived webcast go to:
XBRL (eXtensible Business Reporting Language) is a royalty-free, open
specification for software that uses XML data tags to describe business and
financial information for public and private companies and other
organizations. XBRL benefits all members of the business and financial
information supply chain by utilizing a standards-based method with which
users can prepare, publish in a variety of formats, exchange and analyze
financial statements and the information they contain.
About XBRL Canada:
XBRL Canada is the Canadian jurisdiction of XBRL International, a
not-for-profit consortium of companies and organizations. Its role is to
create and maintain XBRL taxonomies for Canadian Accounting Standards,
increase the knowledge and understanding of XBRL and its uses in Canada, and
to encourage, stimulate and promote the adoption of XBRL in Canada.
About CNW Group:
CNW Group is Canada's leader in the distribution of time-critical news
and information. Founded in 1960, CNW is co-owned by U.S.-based PR Newswire
and U.K.-based PA Group and operates Canadian offices from coast-to-coast with
24-hour bilingual service. CNW communication services facilitate the flow of
news from Canadian organizations to their local, national and global audiences
in the media and financial communities. CNW Group and CNW Telbec in Quebec
offer a range of market-reaching services for IR professionals within the CNX
Marketlink suite and services designed to reach the media within the Newsmaker
For further information:
For further information: XBRL and XBRL Canada: Gerald D. Trites, FCA,
Project Director, XBRL Canada, Canadian Institute of Chartered Accountants,
Tel: (416) 602-3931, Email: Jerry.Trites@cica.ca, Blog: www.xbrlblog.ca; XBRL
and News Releases: Joe Freeman, Director, News Wire & Distribution Products,
CNW Group, Tel. (416) 863-5730, Email: Joe.Freeman@newswire.ca; XBRL and
Regulatory Filing: John Mania, Product Manager, Regulatory Filing, CNW Group,
Tel. (416) 863-5628, Email: John.Mania@newswire.ca; Melody Firth, Manager,
Corporate Communications, CNW Group, Tel: (416) 863-5729, Fax (416) 863-1231,