Turkey SPEAKERS: Dr. Ayzer Bilgic Assistant Director, Merkezi Kayt - - PowerPoint PPT Presentation

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Turkey SPEAKERS: Dr. Ayzer Bilgic Assistant Director, Merkezi Kayt - - PowerPoint PPT Presentation

Jul 08, 2023 271 likes •416 views

Goal and Status of SBR in Turkey SPEAKERS: Dr. Ayzer Bilgic Assistant Director, Merkezi Kayt Kurulusu A.S. Ama Suner Senior IT Specialist, Merkezi Kayt Kurulusu A.S. Agenda 2 MKK & PDP in general Why XBRL & SBR? PDP

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Goal and Status of SBR in Turkey

SPEAKERS:

  • Dr. Ayzer Bilgic

Assistant Director, Merkezi Kayıt Kurulusu A.S.

Amaç Suner

Senior IT Specialist, Merkezi Kayıt Kurulusu A.S.

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Agenda

  • MKK & PDP in general
  • Why XBRL & SBR?
  • PDP XBRL Project
  • Lessons Learned
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Merkezi Kayıt Kurulusu A.S. (MKK)

  • Main Role - Central Securities Depository of Turkey
  • Value-added services
  • Public Disclosure Platform (PDP)
  • e-GEM (Electronic General Meeting)
  • e-COMPANY (Companies Information Portal)
  • e-CAS (Investor Notification & Alert System)
  • e-COMMODITY (Electronic Warehouse Receipt Center)
  • e-DATA (Capital Markets Data Bank)
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X B R L 2 0 1 5 H O S T E D B Y X B R L D E N M A R K

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Public Disclosure Platform

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Why XBRL?

Current Case Requirements

Data for presentation, difficult to analyze, notes are in pdf Limited controls, errors on FRs No connection between MKK based e- systems Swift message infrastructure Dynamic data to search, retrieve & analyse

Minimize errors Multi-language support Swift message infrastructure as STP Promoting academic researchs Integration of PDP, e-Company and e-GEM (inhouse prototype for SBR)

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BIST XII Membership

XBRL Working Group

  • Sept. 2011 2012

CMB&BIST Working Group

Taxonomy Development

  • Jan. 2013
  • Nov. 2013

XBRL-TR

  • Jan. 2015

IFRS Taxonomy Translation Extensions

  • IFRS 2012

taxonomy

  • Revision of FR

Formats

  • XII Membership

Application

  • Strategy, road map
  • Taxonomy

Translation (IFRS 2013)

  • IFRS extensions
  • Sectoral FRs
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Project Phases

  • 1st Phase:
  • FR, material events, CA and fund notification in XBRL
  • Integrate with e-GEM
  • 2nd Phase:
  • Notes in XBRL
  • Integrate with e-COMPANY
  • Collect & dissemine XBRL data to other regulatory

authorities

  • 3rd Phase:
  • Receive instance files from companies
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PDP XBRL Project Scope (Phase 1)

  • Closed Taxonomy
  • Inhouse Development
  • Renderer, Validator, Instance Creator/Viewer
  • Portal for Submitters
  • New Web Site for Publishing
  • New Web Services for Data Vendors
  • Big Bang
  • Taxonomies
  • Financial Reporting Taxonomy
  • IFRS Extension
  • Material Event Disclosure Taxonomy (Our Own)
  • Material Event Disclosures
  • Fund Disclosures
  • CA Taxonomy (Our Own)
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X B R L 2 0 1 5 H O S T E D B Y X B R L D E N M A R K

9 Owned PDP Taxonomy Creating/Testing

  • Nov. 2015

Production March 2014 August 2014

Research/Trainings

Renderer Validator

  • Nov. 2014
  • Tax. Testing/Review

Bug Fix We Are Here

PDP 4.0 Project Timeline

June User Test-2 Sept. User Test-3 March User Test-1

Improve. Improve.

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Financial Report Taxonomy Architecture

MKK Core Entry by Sector IFRS Core IFRS Label EN Labels Pres. Cal. Def. Bus. Rules .xml TR Labels

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Financial Reports , PD and Fund Disclosures

  • Dynamically Rendered Web Forms
  • xls Templates to Upload
  • Digital Signature
  • Process Flows among Actors
  • Within Company
  • Auditor
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Corporate Action Disclosures

  • Coded Web Forms
  • Hard Coded Business Rules
  • Process Flows among Actors
  • Relations between Corporate Actions
  • Digital signature
  • SWIFT Message Creating (STP)
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Lessons

  • Taxonomy preparation before technical

development

  • Start taxonomy creation when whole set is

completed

  • Training, networking
  • Working with stakeholders (companies, related

authorities, audit companies etc.)

  • Thinking about B Plan
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  • For questions
  • ayzer.bilgic@mkk.com.tr
  • amac.suner@mkk.com.tr

THANK YOU.......