IFRS and XBRL in the Oil and Gas Industry - What you need to know now

CALGARY, Mar. 9 /CNW/ - XBRL Canada is holding a seminar on this important topic in Calgary on April 7th at 8:00AM.

There is an urgent need to prepare for the adoption of IFRS in Canada and to understand how the emerging corporate reporting landscape will be impacted by XBRL (eXtensible Business Reporting Language). The SEC in the U.S. has already enacted regulations that cover mandatory reporting in XBRL. In 2011 these SEC rules will have significant implications for Canadian companies as foreign filers using IFRS and the associated IFRS XBRL taxonomy.

This seminar focuses on the planning issues that are of concern to Canadian Oil and Gas companies in preparing for the adoption of IFRS and XBRL. It will address key questions such as;

    
    -   What are the implications of the current and emerging regulations on
        IFRS and XBRL in Canada and the U.S.?
    -   What has been the experience of other companies that have already
        adopted IFRS and XBRL in other parts of the world?
    -   How suitable is the current IFRS XBRL taxonomy for Oil and Gas
        companies and how could the taxonomy be impacted by IASB Extractive
        Activities project?
    -   What resources are available to help companies as they move to
        implement IFRS and XBRL?
    

Global experts in IFRS and XBRL will be speaking at the seminar. Solution providers will also demonstrate their products and will be available to discuss best practices.

Cost of the seminar is $50 per person. Registration is available through the XBRL Canada website at www.xbrl.ca.

XBRL Canada is supported and administered by the Canadian Institute of Chartered Accountants

For further information: XBRL Canada, Gerald Trites, Project Director, [phone], Email: [email protected]