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XBRL Canada Annual Conference “ Efficient and Effective Government Reporting ” 17 October 2012 Ottawa, Canada

XBRL Canada Annual Conference “ Efficient and Effective Government Reporting ” 17 October 2012 Ottawa, Canada. A Roadmap to XBRL Adoption in Canada Gord Beal, CICA Geoff Zakaib , XBRL Canada. XBRL Canada and the CICA.

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XBRL Canada Annual Conference “ Efficient and Effective Government Reporting ” 17 October 2012 Ottawa, Canada

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  1. XBRL Canada Annual Conference “Efficient and Effective Government Reporting”17 October 2012Ottawa, Canada A Roadmap to XBRL Adoption in Canada Gord Beal, CICA Geoff Zakaib, XBRL Canada

  2. XBRL Canada and the CICA • XBRL Canada is the jurisdictional organization that is responsible for the coordination of XBRL activity in Canada • Geoff Zakaib is Chairman of XBRL Canada • The Canadian Institute of Chartered Accountants (CICA) has encouraged and supported XBRL Canada from the beginning • Gord Beal is Director, Guidance and Support at the CICA and provides liaison between XBRL Canada and the CICA

  3. CICA and XBRL Canada – a team • CICA and XBRL Canada have worked together on a variety of projects • Submission to the Red Tape Commission of the Canadian Government • Preparation of the strategy document – Roadmap to Adoption of XBRL in Canada

  4. Red Tape Commission - An Opportunity for SBR in Canada? • Arose out of a desire of the government to cut costs of unnecessary processes • It’s clear that SBR-XBRL could cut costs for both the government and for those who file information with the government • We recommended SBR be adopted • Cited the experience in Netherlands and Australia in particular

  5. The Roadmap Document • The Roadmap document follows up on the Red Tape Submission • With a detailed summary of how to implement SBR in Canada • It also is consistent with other government programs and policies, such as: • The Open Data Project • The “Tell us Once” Policy • The new Data Center Consolidation Project

  6. Tony Clement – Oct 2, 2012 • Focus efforts in three areas: refocusing government and cutting costs; modernizing operations; and making it easier for Canadians to do business with government • Government will tap into technology to transform its “back office” and modernize and automate the “nuts and bolts” of business processes

  7. Tony Clement – Oct 2, 2012 • Will be a “huge effort” that will affect all corporate services and operations across government • Departments will use more electronic documents and reduce their reliance on paper. The government will overhaul its web presence to save money

  8. Red Tape Reduction • The federal government must cut the administrative burden that businesses have to deal with by:  Cutting the burden of regulatory requirements on businesses;  Cutting the information demands on businesses; and  Enhancing the use of electronic services to reduce compliance costs.

  9. Red Tape Reduction • The federal government must cut the hidden burden created when individual businesses have to contend with the demands of many different federal regulators by:  Getting the federal regulatory house in order;  Adopting “Tell Us Once” initiatives within departments that, with consent and appropriate protection of privacy, will allow the recycling and reuse of information already provided; and  Increasing the use of electronic “single windows” for information on regulatory requirements.

  10. Open Government • Open Data - offers government data in more useful formats to enable citizens, the private sector and non-government organizations to leverage it in innovative and value-added ways. • Open Information - is about proactively releasing information to Canadians on an ongoing basis and making government information easier to find and more accessible.

  11. Pro’s and Con’s of existing Canadian environment

  12. Steps for introduction of XBRL in Canada

  13. Pillars for successful XBRL implementation FactFinding / StudyPotential Changes Proposals and Impact Analysis Review and Market Feedback

  14. XBRL Implementation Process

  15. Key Stakeholders

  16. Affected entities by sector

  17. Organizational Concept for SBR Implementation

  18. Where Information Will be filed

  19. How the XBRL information will be disseminated

  20. Timeframe

  21. Call to Action • As a practical solution in a number of key government initiatives obtain support for a comprehensive SBR program using XBRL across as many departments and agencies as possible • Establish a core group to manage the project from inception to implementation (Standard Business Reporting Office)

  22. Call to Action • Encourage and engage the departments and agencies to collaborate in the development of the SBR program • Initiate discussion with market intermediaries and suppliers, including software developers, to build the SBR filing requirements seamlessly into their products

  23. Next Steps • Deliver the Roadmap Document to key decision makers in government and regulators • Create an Ottawa-based Working Group that will serve as a catalyst to support and participate in the SBR initiative within the Canadian Government • Formulate an Action Plan that defines roles, responsibilities, tasks and schedules

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