CNW Group Ready to Assist Public Companies with XBRL Filings
SEC Mandates Public Companies
Begin Filing Regulatory Financial Statements in XBRL FormatTORONTO, Dec. 17 /CNW/ - The U.S. Securities and Exchange Commission
(SEC) today mandated public companies to file their regulatory financial
statements in XBRL (eXtensible Business Reporting Language) or interactive
data format, as follows:2009: The initial group, affecting approximately 500 domestic and
foreign large accelerated filers using U.S. GAAP, with a
worldwide public float of US$5 billion or higher, beginning
with fiscal periods ending on or after June 15, 2009. This
includes quarterly reports filed on Form 10-Q and annual
reports filed on Forms 10-K, 20-F and 40-F.
2010: All other large domestic and foreign accelerated filers using
U.S. GAAP beginning with fiscal periods ending on or after
June 15, 2010, including quarterly reports filed on Form 10-Q
and annual reports filed on Forms 10-K, 20-F and 40-F.
2011: All remaining domestic and foreign issuers, including smaller
companies, using U.S. GAAP as well as foreign filers reporting
in IFRS.
"Our partnership with EDGAR Online® Inc. provides an efficient,
comprehensive and automated turn-key solution for inter-listed Canadian
companies impacted by the SEC's mandate," said Nicole Guillot, Vice President,
Product Management and Operations, CNW Group.
Why choose CNW Group for your XBRL tagging solution?
- CNW Group's partner, EDGAR Online, is the XBRL solution leader for
U.S. issuers who participated in the SEC's voluntary XBRL filing
program
- Reduces manual tagging of the usual 80 to 100 hours down to
approximately 24 hours for your first submission
- Offers XBRL tagging of fundamental financial data for U.S. GAAP,
Canadian GAAP and IFRS
- Subsequent documents can be tagged in as little as 8 hours
- EDGAR Online, the XBRL leader, has invested more than
US$30 million in developing its proprietary technology to deliver
the world's only automated tagging solution"Canadian companies can also benefit by participating in the Canadian
Securities Administrators (CSA) voluntary XBRL filing program now. The
benefits of doing so are three-fold: keep pace with their peers in the U.S.,
benefit from the learning process, and be well prepared when the CSA mandates
XBRL in Canada," continued Guillot.
Please contact CNW Group's in-house regulatory filing experts at:
1.800.825.6133 or XBRL@Newswire.ca.
About CNW Group
CNW Group is a global leader in news and information distribution
services for professional communicators. Established in 1960, CNW is part of
the International PR Newswire network, reaching news outlets in 135 countries
worldwide. CNW Group provides electronic news distribution, targeting,
monitoring, translation, Webcast and disclosure services to corporate,
government, associations, labour, non-profit and other customers worldwide.
CNW Group helps Canadian and international organizations to connect with local
and global audiences including the news media, the investment community and
the general public. CNW Group is co-owned by two news distribution
powerhouses: PR Newswire, based in New York City, USA and PA Group, based in
London, UK. www.newswire.ca 1.877.CNW.7890
For further information:
For further information: John Mania, Manager, Regulatory Filing Services, CNW Group, 1-800-825-6133, XBRL@Newswire.ca; Joe Vecsi, Manager, Corporate Communications, CNW Group, Dir. (416) 863-2134, Cell (647) 205-1467, Joe.Vecsi@Newswire.ca

