Post on 05-Jan-2016
description
XBRL in Europe
XBRL in EuropeXBRL in Europe
Projects, users and…Projects, users and…
Olivier Servais, Olivier Servais,
XBRL in Europe – Permanent SecretaryXBRL in Europe – Permanent Secretary
XBRL Int’l Steering Committee – MemberXBRL Int’l Steering Committee – Member
Tuesday, 26 April 2005
Business casesBusiness cases
11th XBRL International Conference / BostonTuesday, 26 April 2005
AgendaAgenda
What is XBRL in EuropeWhat is XBRL in Europe
Overview of XBRL projects in EuropeOverview of XBRL projects in Europe
Next stepsNext steps
X what ?In Europe ?
What is XBRL in EuropeWhat is XBRL in Europe
Overview of XBRL projects in EuropeOverview of XBRL projects in Europe
Next stepsNext steps
11th XBRL International Conference / BostonTuesday, 26 April 2005
Europe isThe first economic power
Expanding from 15 to 25 countries and from 300M to 500M inhabitants
20 official languages
7,000+ listed companies that reporting with 2+ GAAP (Local GAAP, IFRS, US
GAAP)
26 stock exchanges
The interest of the EC for XBRL (reporting, IFRS, new LL3 committees …)
XBRL is at border-line between technology and finance
Stage in the XBRL life cycle, to increase awareness and use
Need to have dedicated resources on a neutral and permanent basis
The ability for some to cooperate on a unique European project
XBRL in EuropeXBRL in EuropeThe BackgroundThe Background
11th XBRL International Conference / BostonTuesday, 26 April 2005
Theme : “Speeding up the development and adoption of XBRL in Europe”
Supported by the 6th Framework Program : IST-2002-2.3.1.9 - Networked businesses and governments
Focus: Increase awareness Founding jurisdictions Internet Permanent secretariat
Key features Neutral & IndependentTwo-way dialogueICT dimensionInfrastructure Outcome
XBRL in EuropeXBRL in EuropeThe ProjectThe Project
11th XBRL International Conference / BostonTuesday, 26 April 2005
XiE is :1.5 year effort to get the grant
A project granted by the EC … for Europe
An affiliate to XBRL Int’l
A facilitator for creating and developing
jurisdictions, increase awareness and
speed up use
A real neutral and independent player
and is working for, and with, any player
Two-year duration
Just a start
XiE is NOT :Piece of cake Generating any profit
A legal entity nor a part of the EU
Commission
An XBRL Int’l member or new
jurisdiction
Able to give money. The money has
to be expended by its members on a
“pay-back” mechanism
Chasing for any other grant nor
competing with any other
organisation
An end
“XBRL in Europe”The Rules
EstablishedEstablishedIrelandIrelandGermanyGermanySpainSpainThe NetherlandsThe NetherlandsUnited KingdomUnited Kingdom
ProvisionalProvisionalSwedenSwedenBelgiumBelgiumDenmarkDenmark
In constructionIn constructionCzech RepublicCzech RepublicFinland Finland FranceFranceHungaryHungaryItalyItalyPoland Poland PortugalPortugal
In projectIn projectSlovenia, Austria, Slovenia, Austria, Greece, Estonia, Greece, Estonia, Norway, Luxemburg, Norway, Luxemburg, Malta + TurkeyMalta + Turkey
JurisDevJurisDev
AvailableAvailableGermanyGermanySpainSpainUnited KingdomUnited KingdomBelgium Belgium DenmarkDenmark
In constructionIn constructionFranceFranceIrelandIrelandSwedenSwedenThe NetherlandsThe NetherlandsItalyItaly
Local GAAP Local GAAP taxonomytaxonomy
11th XBRL International Conference / BostonTuesday, 26 April 2005
AgendaAgenda
What is XBRL in EuropeWhat is XBRL in Europe
Overview of XBRL projects in EuropeOverview of XBRL projects in Europe
Next stepsNext steps
What is XBRL in EuropeWhat is XBRL in Europe
Overview of XBRL projects in EuropeOverview of XBRL projects in Europe
Next stepsNext steps
National UK Inland Revenue
UK Financial Services Authority
UK Companies House
Datev/Bundesbank
Danish Commerce & Companies (DCCA)
Bank of Spain – Banking Supervisor
Agency for registrations of companies & balance sheet
Spanish Stock Exchange
Bank of Belgium – Balance sheet office
Belgian Banking supervisors
Dutch Water Boards
Dutch Statistics agency (CBS)
Dutch government
Italian Stock Exchange (Borsa Italiana)
MPS Net
Pan-european XBRL in Europe – FP6
ICISA (CRAS group)
Eurostat (feasability study)
IASB
CEBS – COREP (Basel II) & FINREP (IFRS)
XBRL projects in EuropeXBRL projects in Europe
30+ projects !
30+ projects !
Projects and future applications inProjects and future applications inOrganisation Application Project Target Target
date• Balance sheet deposit
• Collection of raw data
• Statistical process
• Interface to other reg’s
• NBB taxonomy devpt
• Review the supply chain
• Review the process
• Reporting tool
270,000/yr 1 Apr, 2007
Prudential & Financial control for Banks, insurances, investment firms, pension funds and listed companies
• Prudential (IFRS) Banking reporting (Schema A)
• Prudential Banking reporting (Basel II)
• Review the supply chain
• Review the process
Every consolidated bank
Every bank
1 Jan, 2006
1 Jan, 2007
Coordinating actions for banks
• IFRS Bank taxonomy devpt
• Review the supply chain
• Review the process
Every bank 1 Jan, 2006
• Balance sheet deposit
• Collection of raw data
• Statistical process
• Awareness & Evaluation
• Review of process
210,000/year TBD
• Collection of raw data • Awareness
• Evaluation
210,000/year TBD
Description of Use Participants Status of Use Stage of Use Type of Use Use of XBRL SpecOrganizations
affected
DATEV, the leading German software and service provider for tax advisers and their customers, is capable to generate XBRL reports out of the ERP system for over 2 million small/medium sized German companies. Datev e.G., Nuernberg Operating/Ongoing Implementation
Internal & External
Instance document creation 2 over 2 million
PPA is running a data base that currently contains about 30,000 annual reports; these data can be delivered to counterparts as XBRL instance documents
PPA GmbH, Darmstadt Operating/Ongoing Implementation
Internal & External
Instance document creation, taxonomy 2 about 7,000
Deutsche Bundesbank, the German Central Bank, is running a data pool of annual financial statements as a basis for operational comparison statistics, aggregate statistics and macroeconomic analyses; an XBRL import interface is implemented.
Deutsche Bundesbank, Frankfurt Completed Pilot External
Instance document consumption 2
10,000 in the starting phase
Deutsche Börse AG, Frankfurt, is looking for ways to enhance and streamline the reporting of SE listed companies through XBRL; that includes implementing import and export features as well as specifically designed taxonomies for the reporting content (as subsets of IFRS and US-GAAP)
Deutsche Börse AG, Frankfurt In Development Pilot
Internal & External
Instance document consumption & creation, taxonomy 2,1 10 (at the pilot stage)
Ernst & Young and Software AG developed an online Corporate Rating Portal (www.eyrating.de) that consumes XBRL instance documents based on the taxonomy GermanAP. Soon the Portal will support also Spec. 2.1 and later the IFRS/IAS Taxonomy.
Ernst & Young, Stuttgart; Software AG, Darmstadt Completed Implementation External
Instance document consumption 2 many
Fraunhofer IPSI developed a collection of tools for processing business information; this includes import/export XBRL, mapping between taxonomies, a reporting language and storage in a repository, etc
Fraunhofer-Institut für Integrierte Publikations- und Informationssysteme, Darmstadt Operating/Ongoing Implementation
Internal & External
Instance document consumption & creation 2 many
Fraport (the company running the Frankfurt airport) disclosed their 3rd quarter figures 2003 as XBRL report assised by various Participanst of the German Jurisdiction various Completed Pilot External
Instance document creation, taxonomy extension 2
1 preparer, 6 XBRL Participants assisting, multiple consumers
S&N AG developed a suite of tools for automatic conversion of XBRL data into the formats used by analysis systems of banks. E.g. it is possible to convert XBRL data from DATEV to the EBIL Format used in Sparkassen in Germany. S&N AG Paderborn Completed Implementation
Internal & External
Instance document consumption 2 over 2 million
S&N AG developed a tool for automatic creation of XBRL instance documents out of the R/3 ERP System of SAP. S&N AG Paderborn Completed Implementation
Internal & External
Instance document creation 2 many
BARS is Deutsche Bank's spreading tool for world wide capture and sophisticated analysis of customers' financial statements. The application offers to Deutsche Bank's credit officers access to 200.000 customers and 1.6 million financial statements stored in a central database. In order to facilitate data capture and to further streamline the credit process the application will be equipped with an XBRL-import interface.
Deutsche Bank AG, Frankfurt a.M. In Development Implementation
Internal & External
Instance document consumption 2.0 & 2.1
up to 200.000 statements per year
11th XBRL International Conference / BostonTuesday, 26 April 2005
UK : the Inland Revenue projectUK : the Inland Revenue project
Announcement as part of UK Budget on March 16.Announcement as part of UK Budget on March 16.
Inland Revenue strategy is to reduce filing costs by moving businesses and Inland Revenue strategy is to reduce filing costs by moving businesses and
their advisers online.their advisers online.
Corporation Tax filings using XBRL will be in place by March 2006.Corporation Tax filings using XBRL will be in place by March 2006.
Filings will consist of an XML return and XBRL calculations and financials.Filings will consist of an XML return and XBRL calculations and financials.
IR is also looking at the use of intelligent-form technologies which are IR is also looking at the use of intelligent-form technologies which are
expected to tie closely into their use of XBRL.expected to tie closely into their use of XBRL.
This strategy has the full backing of HM Treasury and the Chancellor of the This strategy has the full backing of HM Treasury and the Chancellor of the
Exchequer.Exchequer.
11th XBRL International Conference / BostonTuesday, 26 April 2005
Contribution to IFRS FS taxonomy extensionsContribution to IFRS FS taxonomy extensions
Financial statements to Bank of SpainFinancial statements to Bank of Spain
Pilot project at the Pilot project at the Agency for registrations of companies & balance sheetAgency for registrations of companies & balance sheet
Spanish Stock ExchangeSpanish Stock Exchange
Recent new members:Recent new members:
Ministry of FinanceMinistry of Finance
Ministry of IndustryMinistry of Industry
Tax AgencyTax Agency
Projects and future applications Projects and future applications inin
11th XBRL International Conference / BostonTuesday, 26 April 2005
Building an XBRL Solvency Ratio Building an XBRL Solvency Ratio taxonomytaxonomy
Sponsored by the Sponsored by the Committee of European Banking SupervisorsCommittee of European Banking Supervisors
COREP: COREP: defining a defining a COCOmmon mmon REPREPorting framework around the solvency ratio orting framework around the solvency ratio
(Based on (Based on Basel II, Pillar IBasel II, Pillar I)) for credit institutions and investment firms under for credit institutions and investment firms under
the European Union Capital Requirements.the European Union Capital Requirements.
Key featuresKey featuresRequirements for Flexibility, Consistency & StandardisationRequirements for Flexibility, Consistency & StandardisationStarted in February 05, to be ended in June ’05Started in February 05, to be ended in June ’0550 people representing 22 countries involved50 people representing 22 countries involved
DeliverablesDeliverablesInitial COREP XBRL taxonomyInitial COREP XBRL taxonomySet of non-confidential test casesSet of non-confidential test casesBasic collaborative environmentBasic collaborative environment
Further details on www.corep.infoFurther details on www.corep.info
Basel II
Directives 2000/12 & 93/6
Country 1
FSA 1
Report 2Report 1
------------------------------------
Country 3Country 2 Country 25
FSA 2 FSA 3 FSA 25
Report 25
----------------------------------------------------------------------------------------------------------------------------------------------------------------
Report 25
----------------------------------------------------------------------------------------------------------------------------------------------------------------
Report 3
----------------------------------------------------------------------------------------------------------------------------------------------------------------
National Regulation
Transposition intonational Legislation
European Law9X,XX% Basel II compatible
National Implementation
XBRL challenge!
Bank
Risk Management
OperationsCounterparties
Collateral…
Risk Management
OperationsCounterparties
Collateral…
Aggregator
Report
------------------------------
Supervisor
IS Supervisory
ReportsOther data
……
IS Supervisory
ReportsOther data
……
Reception
Presentation, Analysis…Bank operations, controls….
XBRL
instance
Self-assessment MPSnet: il workflow
Session IDWINS
Questionario on line
PMI(ANCE)
Session ID
Web form editabile da Banca MPS
Storing delle statistiche
Generazione automatica di indici sui principali dati economici e finanziari
Valutazione dell’azienda sulla base del posizionamento rispetto al sistema di riferimento
Preview – Generazione del documento di output (CPC)
Web form(questionario) editabile da Banca MPS
Statistiche
Integrazione con dati dai Bilanci depositati (Infocamere)
APCC (B MPS)
Integrazione con
dati fiscali (MEF)*S
ito w
eb A
NC
E
* Attivazione prevista in una fase succesiva
Generazione di grafici sulla base dei dati fiscali (confronto tra dati azienda e dati di settore)*
WINS
PMI(ANCE)
Analisi del mercato (ANCE)*
Infocamere
PDF to XBRL
Tassonomia
XBRL
XBRL
ANCE
Company Profile Card
Session IDWINS
Questionario on line
PMI(ANCE)
Session ID
Web form editabile da Banca MPS
Storing delle statistiche
Generazione automatica di indici sui principali dati economici e finanziari
Valutazione dell’azienda sulla base del posizionamento rispetto al sistema di riferimento
Preview – Generazione del documento di output (CPC)
Web form(questionario) editabile da Banca MPS
Statistiche
Integrazione con dati dai Bilanci depositati (Infocamere)
APCC (B MPS)
Integrazione con
dati fiscali (MEF)*S
ito w
eb A
NC
E
* Attivazione prevista in una fase succesiva
Generazione di grafici sulla base dei dati fiscali (confronto tra dati azienda e dati di settore)*
WINS
PMI(ANCE)
Analisi del mercato (ANCE)*
Infocamere
PDF to XBRL
Tassonomia
XBRL
XBRL
ANCE
Company Profile Card
Borsa Italiana’s vision concerning XBRL
NIS
Excel(pre-
defined)
Adobe IntelligentForm
(pre-defined)
XBRL validator
DBMS XML XBRL
XBRL instance builder
Listedcomps
BorsaItaliana
Errors msgs
Borsa Italiana public website
The instance document could also be sent to:• Listed company’s website• Info vendors• Media• Regulators
Borsa Italiana view of XBRL
11th XBRL International Conference / BostonTuesday, 26 April 2005
Credit Risk : the FLIPA projectCredit Risk : the FLIPA project
Credit Insurers and Business information suppliersCredit Insurers and Business information suppliers team up team up
to develop a joint framework over XBRL technologyto develop a joint framework over XBRL technology
SponsorsSponsors::
ICISA: International Credit Insurance and Surety AssociationICISA: International Credit Insurance and Surety Association
FEBIS: Federation of Business Information ServicesFEBIS: Federation of Business Information Services
DeliverableDeliverable
Generic taxonomyGeneric taxonomy
Multi-languageMulti-language
IFRS extensionIFRS extension
April 2005 – XBRL International Conference –
Boston USA Confidential
e-Report on XBRL
Sender,Product,
...
…
Message informationnon-XBRL
Key financial figures
Business rating
Credit recommendatio
n
Negative events
Envelope
header
Related entitiesEntity
Envelope
trailer
Message informationnon-XBRL
...
XBRL-CRAS FLIPA taxonomy extract
Deliverable: The FLIPA Taxonomy
April 2005 – XBRL International Conference –
Boston USA Confidential
CRAS FLIPA Taxonomy: Multi language support
Creation by CRAS team
Translation by Japanese Team(TSR, TDB+…)
Translation by Lince - Italy
Translation by Atradius
Translation by Coface Intercredit
11th XBRL International Conference / BostonTuesday, 26 April 2005
€350+ Millio
ns
11th XBRL International Conference / BostonTuesday, 26 April 2005
AgendaAgenda
What is XBRL in EuropeWhat is XBRL in Europe
Overview of XBRL projects in EuropeOverview of XBRL projects in Europe
Next stepsNext steps
What is XBRL in EuropeWhat is XBRL in Europe
Overview of XBRL projects in EuropeOverview of XBRL projects in Europe
Next stepsNext steps
XBRL in Europe
Some learningsSome learnings
No reason anymore for not adopting XBRLNo reason anymore for not adopting XBRL Specs are stable for 3 yearsSpecs are stable for 3 years Solutions are availableSolutions are available Political issues are … no longer issuesPolitical issues are … no longer issues
Financial services are one of the most pro-active, but Financial services are one of the most pro-active, but
securities and companies are on track toosecurities and companies are on track too
No need for imposing XBRL…XBRL is just an opportunityNo need for imposing XBRL…XBRL is just an opportunity
From “why and who” to “how to, how much, how long” From “why and who” to “how to, how much, how long”
(the EGG & GCD experiences)(the EGG & GCD experiences)
XiE was expected, it is now a reality, and it’s just the XiE was expected, it is now a reality, and it’s just the
beginning of a longer storybeginning of a longer story
11th XBRL International Conference / BostonTuesday, 26 April 2005
11stst EuropeEuropeanan XBRL Conference XBRL Conference for Financial Servicesfor Financial Services
Theme : Theme : How XBRL will improve Financial Services reporting by 2006How XBRL will improve Financial Services reporting by 2006
Hosts : Hosts : XBRL in Europe, XBRL in Europe, with the Committee of European Banking Supervisors with the Committee of European Banking Supervisors
(CEBS) and the European Banking Federation (FBE)(CEBS) and the European Banking Federation (FBE)
Keynote speakers: Keynote speakers: Jaime Caruana (Chairman of Basel Committee), José Maria Jaime Caruana (Chairman of Basel Committee), José Maria
Roldan (Chairman of Committee of European Banking Supervisors), Peter Praet Roldan (Chairman of Committee of European Banking Supervisors), Peter Praet
(Member of the Board of CBFA), Tom Jones (Vice-Chairman of IASB) and (Member of the Board of CBFA), Tom Jones (Vice-Chairman of IASB) and
representatives of banksrepresentatives of banks
When: When: 29 June 2005 10.00 – 17.0029 June 2005 10.00 – 17.00
Where:Where: Chartered Accountants Hall, London Chartered Accountants Hall, London
Size: Size: Approximately 250 attendeesApproximately 250 attendees
Audience profile: Audience profile: Bankers and supervisorsBankers and supervisorsBook your diary !
11th XBRL International Conference / BostonTuesday, 26 April 2005
Thank you, Merci, Dank Thank you, Merci, Dank u, Grazie, Obrigado, u, Grazie, Obrigado, Danke, Tak, Tack, Takk, Danke, Tak, Tack, Takk, Gracias, Gracias, ευχαριστώ, ευχαριστώ, Köszönöm, Paldies, Köszönöm, Paldies, Aciu, …Aciu, … olivier.servais@xbrl-eu.orgolivier.servais@xbrl-eu.org
+32 2 702 64 82+32 2 702 64 82 +32 2 702 64 75+32 2 702 64 75+32 497 456 456+32 497 456 456
www.XBRL-eu.orgwww.XBRL-eu.orgwww.XBRL-eu.org/londonwww.XBRL-eu.org/london