Foreign Issuers

Foreign Private Issuers using IFRS will be required to file their financial statements in XBRL for Year ends ending on or after December 15, 2017. See the release here.

The IFRS taxonomy (as well as the US Taxonomy) is available on the SEC website at https://www.sec.gov/page/derataxonomies

It is expected that during 2018, all filers will be required to use inline XBRL, (iXBRL). This means that the XBRL filing can be combined with the usual filing so that only one filing will be required. The SEC Decision is outlined here on its website.

iXBRL is explained here. It makes sense for Canadian filers to start with iXBRL rather than starting with XBRL and then having to switch in 2018.

The SEC developed an iXBRL viewer, which is illustrated here.

Technical requirements for implementing iXBRL are set out in the updated EDGAR Filer Manual.