The SEC and the IASB are ntinuing to work together towards SEC approval of the IFRS Taxonomy for foreign direct filers.The SEC rules require the 400or so Canadian cross-listed mpanies using IFRS to file in XBRL.However,they can’t because the SEC hasn’t approved the IFRS taxonomy and the SEC has acknowledged that.

The work that the SEC and IASB have been doing has focused on the development of the release of IFRS Taxonomy 2014,which is expected next month in March.If their work has been suessful,the new taxonomy will be approved by the SEC and the filing rule for foreign filers re-launched.

The SEC has long said that the mpanies will be given the same “warming up”period that they would have had if the original timeline had been applied.That would mean,among other things,that the initial filings would not require detailed tagging of the notes to the financial statements.

The SEC is not saying when all of this will happen,just that they are working on it and making progress.It is a reasonable bet,though,that there will be an announcement this year,and that by late 2014or early 2015,Canadian cross-listed mpanies will have to file in XBRL.

For some mpanies,that means that it is time to nsider how to meet the requirements of this rule.The availability of XBRL data to the SEC is not an insignificant factor.There has been a lot of water under the bridge since the requirement first came into play for US mpanies.Now the data are being used extensively for regulatory purposes,as seen in the results of the use of the Acunting Quality Model that the SEC has developed.We can expect this trend to ntinue.So it is in the interests of filing mpanies to adopt a filing system that results in the highest possible quality of filings and that tell their story most fairly and fully.

XBRL Canada is looking to provide some help for mpanies on this point.The first step being nsidered will be to offer a seminar in the fall on how foreign direct filers can best meet the need for quality XBRL filings with the SEC.If you have an interest in participating in such a seminar,or having one in your region,please drop an email to info@xbrl.ca.

中文新闻：http://www.xbrl-cn.org/2014/0414/101186.shtml