© National Bank of Belgium FINREP - Taxonomy Status Mark Creemers (FINREP project team, National...
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© National Bank of Belgium FINREP - Taxonomy Status FINREP - Taxonomy Status Mark Creemers (FINREP project team, National Bank of Mark Creemers (FINREP project team, National Bank of Belgium) Belgium)
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Transcript of © National Bank of Belgium FINREP - Taxonomy Status Mark Creemers (FINREP project team, National...
© National Bank of Belgium
FINREP - Taxonomy Status FINREP - Taxonomy Status Mark Creemers (FINREP project team, National Bank of Belgium)Mark Creemers (FINREP project team, National Bank of Belgium)
© National Bank of Belgium
Agenda
What is the FINREP-project? Timetable and recent developments Current and Future Issues
Updates IFRS-GP taxonomy
Versioning / Formulas
Modularisation
© National Bank of Belgium
What is the FINREP-project?
© National Bank of Belgium
Timetable and recent developments
Timetable for Taxonomy Start: end of January 2006
Intermediate versions in FINREP yahoo group
First "Public Working Draft" (version 0.3):
First "Final" version (1.0):
Based on IFRS-GP 2005
Based on IFRS-GP 2006
With some TUPLES
Without TUPLES
© National Bank of Belgium
Timetable and recent developments
Timetable for Taxonomy
•Final version (1.3) to be published very soon!•No major changes to PWD expected!
© National Bank of Belgium
Current and future issues
"Timing-dependent" on IFRS-GP taxonomy
IASB: New / Modified IFRS
CEBS: adapt FINREP framework IASCF: adapt IFRS-GP taxonomy
CEBS: adapt FINREP taxonomy
National Supervisors: adapt national extensions
QUID: IFRS-GP taxo is updated, but FINREP framework not?
Close consultation with IASCF needed!
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Current and future issues
Versioning Formulas
Currently many national solutions for the same problem!
= inefficient!
= burden for all parties involved!
Status to be discussed in the end of the Workshop!
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Modularisation
Current and future issues
Only 1 Taxonomy (making abstraction from imported IFRS-GP):All elements (primary, hypercubes, dimensions,...) in one schema file and one presentation, definition,... linkbase file
© National Bank of Belgium
Modularisation
Current and future issues
1 Template taxonomy importing 1 Primary taxonomy and many Dimensional taxonomies:
• There is only one entry point t-FINREP.xsd• This approach was used in monolithic versions "1.0" and "1.2"
© National Bank of Belgium
Modularisation
Current and future issues
Different primary and template taxonomies for each table:• There are many entry points t-FINREP-Txx.xsd• Used in modular versions "1.0" and "1.2"
...
...
© National Bank of Belgium
ModularisationQuid continuing to provide 2 approaches (modularised and monolithic), as for first two versions 1.0 and 1.2?
Not a (realistic) option: This might lead to confusion for supervisors and banks! Maintenance: 2 versions = 2 * work! Risk of divergence between monolithic and modular
version! There is an easy, suitable solution available!
Current and future issues
© National Bank of Belgium
Modularisation
Current and future issues
...
...
"Envelope (one entry point)" taxonomy is equivalent to individual taxonomies: same primary items are (dis)allowed for same dimensions!
© National Bank of Belgium
Thank you for your attention!
Contact: Visit www.finrep.info
Subscribe and post to XBRL-FINREP yahoo group
Questions?
