XBRL Updates Sharing XBRL good practices for Business Registers at - - PowerPoint PPT Presentation

XBRL Updates

Sharing XBRL good practices for Business Registers at the European Level – A step towards convergence

Thomas Verdin, EU BR WG Chair

XBRL is the universal language for the financial communication

FINANCIAL REPORTS INTERACTIVE DATA

• 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

• perational

business reporting

• The equivalent of barcode for financial

data

• A

electronical way to structure financial, legal and economical data

• f companies registers
• A common standard to simplify e-

filing and reduce administrative burdens

Remember me… XBRL What & Why?

XBRL goes about “reports, taxonomies, facts, tags and templates”

REPORT XBRL FILE INSTANCE DOCUMENT XBRL FACT XBRL TAG TAXONOMY

Remember me… XBRL 5 words to know

TEMPLATE

XBRL Europe supports the advancement of XBRL in Europe

...design common reporting standards and data provision requirements for cross-border groups, preferably in a multi purpose format such as XBRL...

• www.xbrl.eu
• gilles.maguet@xbrl-eu.org

Executive Committee Secretary General Gilles Maguet WC Euromarcom Sylvie Lépicier WC Project Coordination Dereck de Brandt WC Strategy & EU Liaison Jean Luc Menda WG EU Business Registers – Thomas Verdin WG Harmon COREP FINREP – Derek Debrandt WG IFRS Extensions – Bodo Kesselmeyer MEMBERS

• 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

XBRL Europe Where & Who?

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,

• ther economic & legal data

Deliverables overview of existing material, common & best

practices, generic taxonomies

RESPRESENTED COUNTRIES Other countries are welcome !

XBRL Europe BR WG Who & Why?

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 The first steps

XBRL to publish information from National Registers XBRL to share efforts on IFRS reports

NATIONAL IFRS REPORTS USERS COMMON TAXONOMY & FILING SYSTEM ACCESS TO REPORTS FROM DIFFERENTS COUNTRIES (LOCAL GAAP) EXCHANGE OF INFORMATION OF CROSS- BORDER COMPANIES MAPPING DIAGRAM NATIONAL REGISTER 1 NATIONAL REGISTER 2

XBRL EU BR WG Where to go?

Updates on the Belgian, British and Italian projects … amongst a lot of national XBRL initiatives

XBRL Updates National illustrations

FOR ADDITIONAL INFORMATION, PLEASE CONTACT :

• thomas.verdin@xbrl-eu.org

COLLECT & RENDER ANALYSE PUBLISH END USER BACK OFFICE ANALYSTS MILLIONS OF XBRL ANNUAL ACCOUNTS BILLIONS OF XBRL FACTS

June 23-25, 2009