Transcript Slide 1

XBRL Updates
Sharing XBRL good practices for Business Registers at
the European Level – A step towards convergence
Thomas Verdin, EU BR WG Chair
Remember me… XBRL
What & Why?
XBRL is the universal language for the financial communication
 An industry standard for the
publishing, exchange and analysis of
business and financial reports and data
 A freely licensable open technology
standard based on XML and adapted
for the financial and operational
business reporting
 The equivalent of barcode for financial
data
 A electronical way to structure
financial, legal and economical data
of companies registers
 A common standard to simplify efiling and reduce administrative
burdens
FINANCIAL
REPORTS
INTERACTIVE
DATA
Remember me… XBRL
5 words to know
XBRL goes about “reports, taxonomies, facts, tags and templates”
TAXONOMY
XBRL TAG
XBRL FACT
TEMPLATE
REPORT
XBRL FILE
INSTANCE
DOCUMENT
XBRL Europe
Where & Who?
 www.xbrl.eu
 [email protected]
XBRL Europe supports the advancement of XBRL in Europe
 standardisation of electronic financial and business information within Europe
 reduction of the regulatory burden with XBRL
 support of European regional XBRL projects and taxonomies,
with special focus on cross-border companies and institutions
Executive Committee
Secretary General
Gilles Maguet
MEMBERS
WC
Euromarcom
Sylvie Lépicier
WC Strategy & EU
Liaison
Jean Luc Menda
WC Project
Coordination
Dereck de Brandt
WG EU Business Registers – Thomas Verdin
WG Harmon COREP FINREP – Derek Debrandt
WG IFRS Extensions – Bodo Kesselmeyer
...design common reporting standards and data provision requirements for
cross-border groups, preferably in a multi purpose format such as XBRL...
XBRL Europe BR WG
Who & Why?
Create a network of Business Registers interested in XBRL
Purpose increase the coordination and interoperability for
European Business Registrars’ XBRL efforts and taxonomies
Scope all economic and legal data for companies operating or
registered in the European Union : company ID, annual accounts,
other economic & legal data
Deliverables overview of existing material, common & best
practices, generic taxonomies
RESPRESENTED COUNTRIES
Other countries are welcome !
XBRL EU BR WG
The first steps
The EU BR WG Survey & Contact list
Overview who and what in each country or project,
regarding XBRL + Business Registers
• Organize a “XEU BR Survey”
Existing XBRL project in Europe for BR
• Define a “XEU BR Contact list”
Existing XBRL contacts in Europe amongst BR
• Identify “XEU BR filing rules and programs”
Existing XBRL filing rules and programs for annual accounts
(extend NBB initiatives)
• Share “XEU BR taxonomies”
Existing taxonomies for business registers in Europe
XBRL EU BR WG
Where to go?
XBRL to publish information from National Registers
ACCESS TO REPORTS FROM DIFFERENTS
COUNTRIES (LOCAL GAAP)
EXCHANGE OF INFORMATION OF CROSSBORDER COMPANIES
NATIONAL
REGISTER
1
MAPPING
DIAGRAM
XBRL to share efforts on IFRS reports
USERS
COMMON TAXONOMY
& FILING SYSTEM
NATIONAL
IFRS
REPORTS
NATIONAL
REGISTER
2
END USER
PUBLISH
ANALYSE
BACK OFFICE
ANALYSTS
COLLECT &
RENDER
NATIONAL PROJECTS - PRESENTATIONS
XBRL Updates
National illustrations
Updates on the Belgian, British and Italian projects
END USER
PUBLISH
ANALYSE
ANALYSTS
BACK OFFICE
MILLIONS
OF XBRL
ANNUAL
ACCOUNTS
BILLIONS OF
XBRL FACTS
COLLECT &
RENDER
… amongst a lot of national XBRL initiatives
FOR ADDITIONAL INFORMATION, PLEASE CONTACT :
 [email protected]
June 23-25, 2009