Ryan Lejbak › Likes

Although Canada seems to be inline when it comes to IFRS, XBRL is virtually non-existent. In my talks with folks from OSC, TSX or large consulting firms the response generally is that "the jury is still out on XBRL" . Totally agree with the challenge of competiting for international dollars without interactive data. However, when this starts to happen they'll have to respond by adoption - won't they? - Darrell Heaps

I've asked Jerry Trites to join us here to talk XBRL. Jerry's here and the question is how are Canadian issuers going to cope with IFRS and XBRL at the same time? Or are they just going to wait until after IFRS is implemented. And isn't that going to leave Canada as a kind of XBRL no-go zone while most of the rest of the world will already have mandatory XBRL for two, three, or four years? - Dominic Jones

The new SEC rules applies to interlisted companies meeting the size test and who file in US Gaap or IFRS. There are some using US GAAP now, so they will have to file in the first wave. Those who move to IFRS will also have to file XBRL. The second wave will pick up more of the interlisted companies. It will be an easy matter for them to file the same in Canada, and of course the OSC... more... - Jerry Trites

Tony Zuck wrote a good recap of XBRL Q&A here: http://www.zu.com/blog... - Ryan Lejbak

It seems to me that Canadian companies may as well start the homework of tagging their main financials sooner rather than later, as it will have to be done at some point anyway. As this is the bulk of the work (ensuring which XBRL tag equals each line item), as soon as this is done, the technical hurdles are are rather light going forward. Given the benefits, one wonders if this is scaring folks way more than it ought to. (I'd say adopting IFRS is approx 1,000 times more onerous) - Tony Zuck

Broc spoke at two sessions and talked about them in this video. He also talked about some cool ideas that he has and mentioned some things that IR people should be aware of. - Ryan Lejbak

This is a good interview and Broc's points are right on target. - Dominic Jones