Transcript Agenda - XBRL International

XBRL in Europe
What’s going on ?
Olivier Servais,
XBRL in Europe – Permanent Secretary
XBRL Int’l Steering Committee – Member
Monday, 7 November 2005
XBRL in Europe
The Project
Theme : “Speeding up the development
and adoption of XBRL in Europe”
Budget & Duration:
About 1M EUR (137.775 M Yen) for 2 years (Feb 04 –Jan 06)
Focus on
 Increase awareness
 Founding jurisdictions
Key features
Dedicated resources (PS)
Affiliate to XBRL International
Neutral & Independent
ICT dimension
Outcome
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe
Agenda
 Jurisdictions development
 XBRL projects in Europe
 What’s next?
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe
XBRL in Europe
Jurisdictions in Jan ‘04
Established
Germany
The Netherlands
United Kingdom
Provisional
Ireland
Spain
In construction
Sweden
Belgium
Denmark
In project
XBRL in Italy
Monday, 11 April 2005
XBRL in Europe
Jurisdictions in Nov ‘05
Established
Ireland
Germany
Spain
The Netherlands
United Kingdom
Provisional
Sweden
Belgium
Denmark
France
In construction
Poland
Italy
Luxemburg
Hungary
Portugal
Turkey
In project
Slovenia, Austria,
Greece, Malta, Czech
Republic, Norway
XBRL in Italy
Monday, 11 April 2005
Agenda
What’s up ?
 Jurisdictions development
 XBRL projects in Europe
 What’s next?
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe
XBRL projects in Europe
Players
Tax authorities
Banking supervisors & banks
Securities regulators & stock exchanges
Statistical agencies
Reporting issues, locally and trans-nationally




Local GAAP and/or IFRS
Basel II (COREP)
Statistics
Corporate governance
Benefits:
 Time & money savings
 Improving transparency
 Reliable & comparable data
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe
The Dutch Taxonomy Project
› Taxonomy for Dutch financial reporting
‒ Annual accounts
‒ Taxes
‒ Financial statistics
› Issues:
‒
‒
‒
‒
Identifying companies
Reporting frequency
Types of reports and status
Audit reports
› Interdepartmental project
‒ Ministry of Justice
‒ Ministry of Finance
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe
Borsa Italiana view of XBRL
Borsa Italiana’s vision concerning XBRL
Listed
comps
Adobe Intelligent
Form
(pre-defined)
Excel
(predefined)
XBRL
instance
builder
The instance document could
also be sent to:
• Listed company’s website
• Info vendors
• Media
• Regulators
NIS
Borsa Italiana public website
XBRL validator
Errors msgs
DBMS
Borsa
Italiana
XML
XBRL
Infocamere
Self-assessment MPSnet: il workflow
PDF to
XBRL
PDF
Sito web ANCE
PMI
(ANCE)
WINS
Questionario on line
Generazione di grafici
sulla base dei dati
fiscali (confronto tra
dati azienda e dati di
settore)*
PMI
(ANCE)
Generazione automatica
di indici sui principali dati
economici e finanziari
Storing delle statistiche
WINS
Statistiche
* Attivazione prevista in una fase succesiva
Thursday, 23 April 2020
XBRL
APCC
(B MPS)
Web form (questionario)
editabile da Banca MPS
Valutazione dell’azienda
sulla base del
posizionamento rispetto
al sistema di riferimento
Analisi del mercato
(ANCE)*
Session ID
Company Profile Card
ANCE
Tassonomia
Integrazione con dati
dai Bilanci depositati
(Infocamere)
Integrazione con
dati fiscali (MEF)*
Session ID
XBRL
Web form editabile
da Banca MPS
Preview – Generazione del
documento di output (CPC)
Belgian XBRL projects
Organisation
Application
Target
Target date

Central Balance sheet office
 Collection of raw data
 Statistical process
270,000/year
1 April 2007
Supervisory reporting
Every consolidated
bank
1 January 2006
Data dictionnary
Every bank
1 January 2006
Companies Tax filing (ISOC)
 Collection of VAT data
 Collection of raw data
 Statistical process
270,000/year
TBD

At Respondent
Inside the CSO
CSO Process
CSO Form
Template Form with
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Taxonomy
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Instance Document
COmmon REPorting
Basel II
European Law
9X,XX% Basel II compatible
Directives 2000/12 & 93/6
Country 1
Country 2
Country 3
Transposition into
national Legislation
Country 25
National Regulation
FSA 1
FSA 2
FSA 3
FSA 25
National Implementation
Report 1
----------------------------------
SGCB
Report 2
Report 3
Report 25
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XBRL challenge!
SIGD - SAI
COREP XBRL progress report
1st European XBRL Conference
for Financial Services
 Theme : How XBRL will improve Financial Services reporting by 2006
 Hosts : XBRL in Europe, with CEBS
 Keynote speakers: José Maria Roldan (Chairman of Committee of European
Banking Supervisors), Pierre-Yves Thoraval (Member of Basel Committee), Peter
Praet (Member of the Board of CBFA), Tom Jones (Vice-Chairman of IASB) and
representatives of the European Commission and banks (Deutsche Bank, San
Paolo IMI + Borsa Italiana)
 When: 29 June 2005 10.00 – 17.00
 Where: Chartered Accountants Hall, London
 Size: 180+ attendees
 Audience profile: Bankers and supervisors
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe
3rd CEBS XBRL Workshop
The concept
 Purposes :
To provide technical background & knowledge in order to explain how to take
advantages of XBRL;
To show to the audience that real software solutions are available and can be
implemented at the local banking supervisory level;
To show the achievements of the process initiated by CEBS on February 2005;
To show how it works in national regulatory environments, but nevertheless
supervisors will get even more leverage by implementing COREP and FINREP
together with international cooperation.
 Duration & form: Workshop from Tues 13 Sept 12.30 to Fri 16 Sept 13.30
 Audience : supervisors only (+ guests) from 22 EC countries
 Location: National Bank of Belgium - Brussels
 Vendors: attending (12, on invitation only after RFP) to show solutions
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe
Agenda
 Jurisdictions development
 XBRL projects in Europe
 What’s next?
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe
XBRL in Europe
Some results
 XBRL as single format for making consistent quality and
compatibility of financial reporting
 5,000+ attendees to ca. 80 sessions
 Regulators & supervisors started making its use mandatory
 Securities exchanges recommending its use
 XBRL working groups in almost every EU countries
 Improving cooperation between Europe and rest of the world
 New XBRL uses are now considered : tax filing, anti-money
laundering, Central balance sheet office…
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe
XBRL International in Europe
Our objectives
Support European Jurisdictions: starting jurisdictions, marketing and
communication, coordinating support for pan-Europe taxonomies, assisting
jurisdictions in TRP, networking, educational needs…
Closer and more in tune with European requirements and business
requirements, while maintaining a strong link to XII to assure harmonisation
with global XBRL common interests
To be a model for further regional development around the world
Basic principles:
 Think global, act local
 KISS
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe
New proposal : eXTRA
XBRL Toward Real Adoption
 Focus on:
XBRL Horizontal Deployment
Taxonomy development coordination
XBRL- GL
Support to Jurisdictions’ Constitution
Project management
 Consortium members : XIIE, Chato d’O, PwC, IASCF
 Deep jurisdiction involvement
 Budget : about 1,4M€
 Agenda : 21 Sept – 15 Nov – Q2/06
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe
音楽
 [email protected]
+32 2 702 64 82
 +32 2 702 64 75
+32 497 456 456
www.XBRL-eu.org
12th XBRL International Conference - Tokyo
Monday 7 November 2005
XBRL in Europe