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Slide 1 Eurostat Unit B3 – Statistical Information Technology GLC 13 on 25-26 October 2004 Electronic Data Reporting for European Statistics.

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Presentation on theme: "Slide 1 Eurostat Unit B3 – Statistical Information Technology GLC 13 on 25-26 October 2004 Electronic Data Reporting for European Statistics."— Presentation transcript:

1 Slide 1 Eurostat Unit B3 – Statistical Information Technology GLC 13 on October 2004 Electronic Data Reporting for European Statistics

2 Slide 2 Eurostat Unit B3 – Statistical Information Technology GLC 13 on October 2004 Eurostat The Statistical Office of the European Community Commission Directorate General Community Statistical Authority Tasked with providing a high quality statistical information service –Pan-European data –Customers at all levels

3 Slide 3 Eurostat Unit B3 – Statistical Information Technology GLC 13 on October 2004 European Statistical System Network of national institutions and agencies Co-ordinated by Eurostat 1000 data providers to Eurostat More than 100 committees, working groups and expert groups –Harmonisation of statistics –Common methodology & standards Reducing burden on providers, processors and users

4 Slide 4 Eurostat Unit B3 – Statistical Information Technology GLC 13 on October 2004 Harmonisation & Methodology EU Regulations and Agreements Code lists, nomenclatures Reporting tools, services and standards –National raw data –Aggregated European data Latest technologies –Internet, Web-forms –XBRL?

5 Slide 5 Eurostat Unit B3 – Statistical Information Technology GLC 13 on October 2004 Co-ordination Accounting & Statistics Task Force –IAS/IFRS Collection of Raw Data Task Force –Data reporting technologies Projects –National –Commission funded XBRL

6 Slide 6 Eurostat Unit B3 – Statistical Information Technology GLC 13 on October 2004 XBRL Studies XBRL Feasibility Study –Extraction of economic statistics –Impact of IAS –Intended use by financial institutions Accounting & Statistics national survey –Current/planned taxonomy development –Current/planned use of XBRL

7 Slide 7 Eurostat Unit B3 – Statistical Information Technology GLC 13 on October 2004 Study Results Good potential for economic statistics Strong appetite in financial community Unawareness in business community Success depends on local GAAP/IFRS taxonomies Statistical taxonomies will be required Commission funded pilot project is feasible

8 Slide 8 Eurostat Unit B3 – Statistical Information Technology GLC 13 on October 2004 XBRL & Statistics Benefits –Readily available financial/economic data –Reliable data –Reduced reporting burden Drawbacks –Instability in IFRS & lack of GAAP taxonomies –Statistical data shortfalls –Business awareness –Country by country variance

9 Slide 9 Eurostat Unit B3 – Statistical Information Technology GLC 13 on October 2004 Conclusions Good potential for economic statistics Some encouraging national developments Need for more national awareness and local GAAP developments Need for statistical agencies involvement “XBRL in Europe” should greatly advance awareness and developments Commission funded project on XBRL for Statistics to be considered

10 Slide 10 Eurostat Unit B3 – Statistical Information Technology GLC 13 on October 2004 Eurostat Thank you Questions?


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