1. XBRL in Canada Status
XBRL Canada

2. Presenters Geoff Zakaib, Chair, XBRL Canada
Gerald Trites, FCA, XBRL Canada Project Director
ASK each participant to briefly introduce themselves
ASK them what questions they want answered or particular expectations for the course 2

3. Today’s Agenda
Proposals for a widespread adoption of XBRL by the Canadian Government using SBR
Status of the IFRS Taxonomy with the SEC
Adoptions by Canadian companies and organizations
Implications of the extensive worldwide adoption for Canada

4. Proposals for SBR

5. Standardized Business Reporting (SBR)
Across the board adoption of XBRL in a government or across numerous departments and agencies.

6. Numerous countries around the world have adopted SBR in whole or in part. For example,
The Netherlands, Denmark, New Zealand, Australia, Japan, Singapore, Ireland, Poland, the United Kingdom, India, Belgium, Estonia, Luxembourg and Italy.

7. Government agencies included in the Australian SBR program:
Treasury (as the lead),the Australian Prudential Regulation Authority
The Australian Securities & Investments Commission
The Australian Taxation Office
The State and Territory government revenue offices, and
The Australian Bureau of Statistics.

8. pro’s and con’s of existing Canadian environment
Opportunity to create a strategic vision for e-government
Insufficient data quality and analytics
Lack of comparability of Canadian to international financial data
Administrative burden on business filers
Costly individual "sea of redundant data" in different institutions

9. 4 pillars for successful XBRL implementation
LEGAL
Analysis of legal state-of-the-art reporting obligations
Proposal of legal changes
Analysis of legal impact
Continuous revision of results
Users and adopters feedback
OrganizationAL
Analysis of the structure of the reporting organisations
Requirements for organisational structure
Roles and responsibilities
Involvement of Canadian institutions and organisations
Communication
Data
Analysis of the scope of data reported by / to various entities
Proposal of data sets and redundancy elimination
Proposal of taxonomies
Continous data update
Update and maintenance of taxonomies
TechnologICAL
Analysis of reporting technical solutions
Proposal of technical solutions
Analysis of technological impact
Technical solutions introduction
Technical monitoring and changes control

10. XBRL Implementation Process
Define and tag all data items and forms subject to filing
Define all data owners and receivers
Define all information filing frequencies
Identification
Identify and remove redundant information items
Identify specific taxonomies
Draft supporting legislation
Approximation
Create individual taxonomies
Publish and utilize taxonomies
Conduct public market awarenes s programme
Publication

11. Affected entities by sector
Banking
Banks
Credit Unions
Business
Regulated Companies with special reporting obligations
Companies listed on the Stock Exchanges
Taxpayers
Capital markets
Stock Exchanges
Securities Commissions
Securities brokerage companies
Investment funds management companies
Financial services
Money transfer service providers
Currency exchange offices
Audit firms
Leasing companies
Pension funds management companies
Insurance
Insurance companies
Insurance brokers
OSFI
Insurance agents
Public sector
Municipalities
Government Owned Entities
Public companies
CRA
Federal and Provincial Governments
Not-for-Profits
Political parties
Foundations
Civil Associations
Religious groups and associations
Foreign associations
Foreign NFP's
Charitable organizations and associations

12. Organizational Concept for SBR Implementation
Standard Business Reporting Roles
Management
Create and update legal framework
Coordinate project activities
Implementation
Establish and maintain technical framework
Meta data definition
Development
Development of taxonomies
Define and promote standards and legislation

13. Where Information Will be filed
various business and financial regulatory data
Information filers
processing:
label, presentation, reference, formula, context, calculation
Departments and Agencies collecting Data

14. How the XBRL information will be disseminated
XBRL metadata repository
CRM: Register of annual accounts
SEC: Register of companies with special reporting obligations
Statscan
Stock Exchanges and Securities Commissions
Other relevant agencies
Regulator X: System X
Market Analyst X: Analytics systems

15. Timeframe
Establishment of Canadian SBR Strategy
3 months
Development and Implementation of Canadian National XBRL Taxonomy
12 months
Implementation of specific XBRL projects

16. Download the XBRL Canada Roadmap Executive Summary
XBRL Canada Website at

17. Status of the IFRS Taxonomy with the SEC
At Montreal Conference, SEC officials confirmed that foreign filers using IFRS will have to file during 2012
Subsequent Information confirms this is their position
Canadian cross-listed Companies should prepare

18. Changes between 2011 and 2012 IFRS Taxonomies

19. IFRS Taxonomy Changes
There were no significant architectural amendments between IFRS Taxonomy 2011 and IFRS Taxonomy 2012
There were some technical improvements
© 2012 IFRS Foundation. 30 Cannon Street | London EC4M 6XH | UK.

20. IFRS Taxonomy – content changes
Changes relating to new and revised Standards issued by the IASB during 2011:
IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosures of Interests in Other Entities, revised IAS 27 Separate Financial Statements, revised IAS 28 Investments in Associates and Joint Ventures
IFRS 13 Fair Value Measurement
Presentation of Items of Other Comprehensive Income – Amendments to IAS 1
Revised IAS 19 Employee Benefits
Mandatory Effective Date and Transition Disclosures – Amendments to IFRS 9 and IFRS 7
Disclosures – Offsetting Financial Assets and Financial Liabilites – Amendments to IFRS 7
© 2012 IFRS Foundation. 30 Cannon Street | London EC4M 6XH | UK.

21. IFRS Taxonomy – content changes (cont.)
Changes relating to inclusion of common practice concepts (based on analysis of 200 IFRS financial statements of commerce & industry companies, financial institutions and insurers):
Approximately 340 concepts from analysis of primary financial statements and block-tagging of notes and accounting policies
Approximately 280 concepts from detailed analysis of notes to financial statements
Minor changes relating to “annual improvements” to IFRS Taxonomy (removal of duplicate elements, increased precision of labels etc)
© 2012 IFRS Foundation. 30 Cannon Street | London EC4M 6XH | UK.

22. Proposed IFRS Taxonomy 2012 files
All files available at
Review documentation
Taxonomy files, including XSD entry points
IFRS Taxonomy Illustrated
xIFRS (IFRSs with XBRL)
© 2012 IFRS Foundation. 30 Cannon Street | London EC4M 6XH | UK.

23. Number of taxonomy items
Some statistics
Number of taxonomy items
Exposure draft
2012 taxonomy
Final 2011 taxonomy
Final 2010 taxonomy
Total
3,770*
2,545
2,027
Full IFRS (excluding the IFRS for SMEs) (1)
3,658
2,426
1,936
IFRS for SMEs (2)
1,135
1,128
1,026
Disclosure requirements (part A of the Bound Volume)
2,259
1,851
1,688
Examples (part B of the Bound Volume)
399
281 2
Common Practices
694
112
114
*Includes also 418 technical elements without reference
© 2012 IFRS Foundation. 30 Cannon Street | London EC4M 6XH | UK.

24. Translations 10+ IFRS Taxonomy translations to date
Arabic, Chinese (simplified and traditional), Dutch, French, German, Hungarian, Italian, Japanese, Korean, Portuguese, Spanish
Translated materials available:
IFRS Taxonomy files
IFRS Taxonomy Illustrated
Arabic
Spanish
© IFRS Foundation. 30 Cannon Street | London EC4M 6XH | UK.

25. Invitation to comment Exposure draft comment deadline: 17 March 2012
Comments sought on the following aspects:
Completeness: are all IFRS disclosure requirements represented in the exposure draft IFRS Taxonomy 2012?
Granularity of detail: are all IFRS disclosure requirements represented with an appropriate level of detail in the exposure draft IFRS Taxonomy 2012?
Appropriate use of XBRL components to represent IFRS disclosure requirements
Compliance with XBRL Specifications
Comments should be submitted in writing via the IFRS website:
© 2012 IFRS Foundation. 30 Cannon Street | London EC4M 6XH | UK.

26. Adoptions by Canadian companies and organizations

27. Limited Adoption in Canada so far
CSA waited for IFRS adoption to complete
Several cross-listed companies using US GAAP have filed as foreign filers with SEC
Deposit Insurance Corporation of Ontario (DICO) requires XBRL for filings by Credit Unions
Sec Foreign Filers rule for companies using IFRS will affect about 350 Canadian companies

28. Implications of the extensive worldwide adoption for Canada

29. Why Canada should care about Global XBRL Adoption
XBRL Gaining momentum on a worldwide scale
Now over 70% of the world Cap is covered by XBRL filings
Eg. US, UK, Most of EU, Japan, Australia, China, Singapore, S Korea
Potential to improve capital market efficiency
PDF information – “static”
Canada stands to be left out of the global data availability scene

30. XBRL Canada Contacts Jerry Trites Web site 416-602-3931 grites@xbrl.ca

31. Questions?