On April 8, 2011, the staff of the Division of Corporation Finance and the Office of the Chief Accountant at the SEC issued a no-action letter stating that foreign private issuers that prepare their financial statements in accordance with International Financial Reporting Standards (IFRS) are not required to submit eXtensible Business Reporting Language (XBRL) to the SEC and post XBRL on their corporate websites, if any, until the SEC specifies on its website a taxonomy for use by such foreign private issuers in preparing their XBRL.
As noted in the incoming letter, the SEC has not specified on its website a taxonomy for use by foreign private issuers that prepare their financial statements in accordance with IFRS, and it is not possible for such foreign private issuers to comply with Rule 405 until the SEC does so. Without this relief, foreign private issuers were required to submit XBRL beginning with fiscal years ending on or after June 15, 2011.
http://www.sec.gov/divisions/corpfin/cf-noaction/2011/caq040811.htm
