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XBRL COFINREP Implementation VII COFINREP Workshop Bartosz Ochocki

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Presentation on theme: "XBRL COFINREP Implementation VII COFINREP Workshop Bartosz Ochocki"— Presentation transcript:

1 XBRL COFINREP Implementation VII COFINREP Workshop Bartosz Ochocki bartosz.ochocki@br-ag.eu

2 XBRL in Polish banking sector National Bank of Poland extension of COREP and FINREP taxonomies COREP CA template required starting from March 2007 COREP and FINREP obligatory since July/September 2007 legislative process development of the reporting platform designing of the data base enabling analysis Reporting banks preparation of their internal systems solutions of Polish software vendors 2007-05-09VII COFINREP Workshop 2

3 Reporting chain Model approach 2007-05-09VII COFINREP Workshop 3 Regulator Reporting entity Content and format Report Data sources Report generating Report receiving and validating Data mining Software vendors and consultants Legal regulations

4 XBRL reporting implementation phases 2007-05-09VII COFINREP Workshop 4 Requirements analysis Resources analysis and planning Preparation of infrastructure Tests Production use Rules and processes regarding maintenance I I II III IV V V VI Heavily depend on scope, conditions and means of implementation

5 Scope of implementation 2007-05-09VII COFINREP Workshop 5 Regulator Reporting entity Data sources Report generating Report receiving Data mining Report for statistics Report for super- visors Report for financial/ accounting scope of reporting chain range of data collected

6 Means of implementation 2007-05-09VII COFINREP Workshop 6 development using own resources only development using available tools as components purchase of the solution covering whole reporting chain independency customization possibility time and effort minimizing less knowledge required

7 XBRL reporting implementation phases 2007-05-09VII COFINREP Workshop 7 Requirements analysis Resources analysis and planning Preparation of infrastructure Tests Production use Rules and processes regarding maintenance I I II III IV V V VI

8 2007-05-09VII COFINREP Workshop 8 Preparation of infrastructure III Preparation of data model Taxonomy development and documentation Instance document requirements documentation Development of reports generating solutions (optional) Communication aspects (transferring and receiving files) Taxonomies distribution Transfer of reports (receiving and validation) Data conversion and gathering Data analysis 1 1 2 2 3 3 4 4 5 5 5a 5b 6 6 7 7

9 2007-05-09VII COFINREP Workshop 9 Preparation of infrastructure III Preparation of data model 1 1 Problems level of details decision on use of dimensions logical split in parts understanding of the nature and limitations of XBRL technology fundamental requirements clarityconsistencyunequivocal

10 2007-05-09VII COFINREP Workshop 10 Preparation of infrastructure III Preparation of data model Taxonomy development and documentation 1 1 2 2 Requirements Design Building Testing Publication & Recognition Maintenance and Usage Taxonomy requirements Information model Taxonomy Working Drafts Taxonomy Exposure Draft Taxonomy Final Version Predevelopment Development Post-development

11 framework and modularization - building a taxonomy from logical pieces aim: avoiding redundancy (elements and relationships) minimizing of efforts minimizing of size maximizing of functionality and flexibility technical approaches: modularization on linkbase (extended links) level [IFRS-GP] modularization with one sack for elements definitions [FINREP] modularization with common elements' sacks [COREP] mix 2007-05-09VII COFINREP Workshop 11 Preparation of infrastructure III Taxonomy development and documentation 2 2

12 2007-05-09VII COFINREP Workshop 12 S (w) C L R S (b) S1 (p) P L R D S1 (d) L R C S2 (p) PDC S3 (p) PD D S2 (d) L R D S3 (d) L R D S1 (t) L S2 (t) DL S3 (t) D S (ts) S (tr) modularization with one sack for elements definitions [FINREP]

13 2007-05-09VII COFINREP Workshop 13 C S1 (p) PD S1 (d) L R D S2 (d) L R D S3 (d) L R D L S1 (t) DL S2 (t) DL S3 (t) D LR C S1 (cp) PD LR C S2 (cp) PD LR C S2 (p) PD LR C S3 (p) PD LR S (ts) modularization with common elements' sacks [COREP]

14 NBP –Taxonomy framework 2007-05-09VII COFINREP Workshop 14 monthly quarterly yearly quarterly monthly quarterly yearly monthly quarterly yearly PAS IFRS individual consolidated individual consolidated FINREP COREP COMMON

15 requirements regarding indication of version and sort of taxonomy on which report is based: automatic: schemaRef attribute of the entry schema (extending prohibited) additional: file name context id reported element … requirements for data accuracy precision/decimals attributes depending on concept or data type 2007-05-09VII COFINREP Workshop 15 Preparation of infrastructure III Instance document requirements documentation 3 3 (1)

16 specific file names and context ids, e.g.: N_a_b_c_d_RRRRMMDD.xbrl N: shortened bank name a: [c;f] b: [j;s] c: [p;m] d: [m;k;r] RRRRMMDD: reporting date reporting entity identification: entity identifier: code of reporting bank identifier scheme: http://sis.nbp.pl/ticker 2007-05-09VII COFINREP Workshop 16 Preparation of infrastructure III Instance document requirements documentation 3 3 (2)(2)

17 2007-05-09VII COFINREP Workshop 17 Preparation of infrastructure III Instance document requirements documentation 3 3 (3)(3) 111 d-FINREP-pl-pa:PortfelB d-FINREP-pl-pp:DuzePrzedsiebiorstwa d-FINREP-pl-wa:Pln 2007-03-31 2007-06-30 iso4217:PLN 1000 111 d-FINREP-pl-pa:PortfelB d-FINREP-pl-pp:DuzePrzedsiebiorstwa d-FINREP-pl-wa:Pln 2007-03-31 2007-06-30 iso4217:PLN 1000

18 MS Excel macro for CA template Field left to the market 2007-05-09VII COFINREP Workshop 18 Preparation of infrastructure III Development of reports generating solutions (optional) 4 4

19 communication platform: Internet basic features: login taxonomy distribution transfer and receive of report report classification period taxonomy package information on submitting person information on person responsible for data 2007-05-09VII COFINREP Workshop 19 Preparation of infrastructure III Communication aspects (transferring and receiving files) 5 5

20 institution exposing taxonomy communicating changes report receiving reporting entity download taxonomy (mappings and remappings) report submitting software vendor taxonomy download and caching (embedding in tools) 2007-05-09VII COFINREP Workshop 20 Preparation of infrastructure III Communication aspects (transferring and receiving files) 5 5

21 XBRL and other validations XBRL - embedded in portal validator need for customization of error messages language human readability advanced business rules business rules need to be communicated to reporting entities (preferred electronic format, e.g. CSV, XML, …) available software specific solutions other checks formal requirements regarding instance documents completeness historical checks on the database level 2007-05-09VII COFINREP Workshop 21 Preparation of infrastructure III Transfer of reports (receiving and validation) 5b

22 Data conversion mapping of: taxonomies in order to design database reports (instance documents) into databases mechanism to flatten XBRL contextually dimensionally may support problem of versioning indication of changes in taxonomies with regard to databases consequences of taxonomy changes for XBRL instance documents content 2007-05-09VII COFINREP Workshop 22 Preparation of infrastructure III Data conversion and gathering 6 6

23 XBRL Reporting Chain Model 2007-05-09VII COFINREP Workshop 23

24 2007-05-09VII COFINREP Workshop 24 Rules and processes regarding maintenance VI Regulator Reporting entity Report Data sources Generating reports Receiving and validating report Data gathering New (changed/corrected) taxonomy Changes in legislation Former taxonomy Changes in base taxonomy (in case of extensions) Format and content Taxonomy bugs and issues Changes in taxonomy

25 technical (ID) labels construction: link:label elements with specific xlink:role attribute value unique identification of a concept benefits: easier and faster communications (short codes instead of long labels) easier indication of concepts (in taxonomy, instance document or validation reports) direct link between data model and the taxonomy supports designing of, mappings to and maintenance of databases supports versioning (codes don't change while names or namespaces do) 2007-05-09VII COFINREP Workshop 25 Rules and processes regarding maintenance VI

26 Responsibilities of the reporting banks gathering and calculation of reporting data generation of the instance documents correct definition of context information ability to localise reporting concepts in the taxonomy structure proper mapping from internal systems and databases validation of the instance document XBRL (XML and others) business rules formal requirements sending of the instance document to the reporting system understanding of error reports and correction of errors 2007-05-09VII COFINREP Workshop 26

27 Thank you Bartosz Ochocki bartosz.ochocki@br-ag.eu


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