SEC mandates XBRL adoption

Today, the SEC voted 4-1 in favour of requiring 500 of the largest public companies to use XBRL by mid 2009. To read the full story please click here.

In Canada, the securities commissions have not put it to a vote, but a voluntary filing program remains in effect. Canadian public companies should at least consider the voluntary program as a way to keep pace with their peers in the U.S.

In fact, major Canadian newswire, CNW Group, has partnered with EDGAR Online, Inc., to assist companies that want to participate in the Canadian Securities Administrators XBRL voluntary filing program.