XBRL - voluntary until mandatory

It is widely believed that use of XBRL becoming mandatory is a question of when, not if. So, while we wait for the SEC's decision on whether to make XBRL mandatory for U.S. publicly traded companies, it is important to recognize that voluntary filing programs exist, not only in the U.S., but also in Canada and other countries.

Voluntary filing programs are not only evidence that firms see the benefits of early adoption, but also allow issuers to make the transition (and work out any kinks) according to their own timetable rather than being mandated to do so by regulators.

Voluntary filing is not new in Canada. In fact, the first Canadian issuer to adopt XBRL was The TSX Group Inc. (now the TMX Group Inc.) in early 2004.