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Moving Forward With XBRL: What Will It Mean for Canadian Companies?


Sept. 5, 2008 (SmartPros) XBRL Canada, member jurisdiction of XBRL International, is set to discuss recent proposals by the U.S. Securities and Exchange Commission for the mandatory use of "Interactive Data" or XBRL during a morning event September 24 at the Metro Toronto Convention Centre.



The effect on several of Canada's largest public companies and those dually-listed on Canadian and U.S. exchanges is sure to be felt, as the SEC's proposed rule would require all Reporting Issuers to provide financial information using Interactive Data, beginning early 2009 for the largest public companies, and within three years for all other public companies reporting to the SEC - both Domestic and Foreign Issuers.

"There is little doubt that interactive data is our future," said Gerald Trites, Project Director, XBRL Canada. "With adoption in its early stages, we still have a strong voice and can considerably affect the adoption process. We encourage investor relations officers, financial communications professionals, thought leaders and all those interested in XBRL to join us for this event and share their thoughts on what it means to business in Canada."

The full agenda for the event is posted on the XBRL Canada website: www.xbrl.ca/registration.

The afternoon session, held in the same venue, will be hosted by the Canadian Securities Administrators (CSA), and will discuss the SEC rule and the implications for the Canadian marketplace by way of a panel discussion and expert presentations by members of the SEC and the CSA.

There is no charge to attend this event. Continental breakfast and a buffet lunch will be provided to attendees. .

The XBRL Canada morning sessions are sponsored by the Canadian Institute of Chartered Accountants (CICA), Bowne & Co., and XBRLit.

(C) 2008 Market Wire. All Rights Reserved

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