Canadian Oil and Mining Disclosures in XBRL?
A recent briefing note shares some additional details on the proposed disclosure mandate for extractive firms in Canada. As reported last week it is anticipated that either a common reporting template will ultimately be developed for use in Canada, the European Union and the United State, or reporting for one of those Jurisdictions may also suffice in meeting the Canadian requirement, says business law firm Stikeman Elliott LLP. They go on to say that under the mandate, reports would be posted by regulated companies on their corporate websites in XBRL and this data would be available for free and unrestricted use by the public. Software vendors and Accounting firms that serve Canadian firms in this field should prepare for this mandate and brief their clients.
