Electronic disclosures and web-based reporting

With the rapid advancement of information technology, particularly the Internet and related technologies such as XBRL (eXtensible Business Reporting Language), organizations are adopting new means of communicating with investors and other stakeholders. For example, information is being delivered online in the form of corporate news, quarterly earnings releases, annual reports (typically in PDF format), audio and/or video conferencing and e-mail alerts. Together, organizations and stakeholders are shifting to a new paradigm — real-time online reporting. A new CICA research study addresses “corporate reporting to stakeholders” on a continuous basis, including online reporting. It is anticipated that the study will be available in September 2007. However, a Highlights booklet is available now (Corporate Reporting to Stakeholders - Highlights).