1. www.XBRL.se Authenticity of Electronic Records in XBRL Lucas Cardholm, LL.M. Working Group Authenticity and Security, XBRL Sweden lucas.cardholm@se.ey.com

2.  XBRL Sweden objective is to create a Swedish XBRL taxonomy applicable for companies reporting under Swedish GAAP as well as IFRS  Non-profit organisation  Lucas is IT-Lawyer in WG ”Authenticity and Security”  Ernst & Young, Technology & Security Risk Services Background

3. Project Background Company Auditor Book-keeping Sw. Companies Reg. Office Signature (authenticity) Confidentiality Market PublicAuthorities

4. The annual report Auditors endorsement Members of the board, Managing Director Data integrity Initials, members of the board and Auditor(s) Proof of adoption resolution, member of the board

5. One Signature – a variety of intentions Paper World Signers intention is defined by the nature of the document and years of practise, legal effect by the court of law. Identify Assure Authenticity Integrity Non-repudiation Legal Effect Declaration of Commitment Warning Electronic/Digital World Signers intention is often not defined when signature is created. ?

6. The need for Declaration of Commitment ”Figures are correct” No commitment, but intention ”No pages are (ex)changed” ”I agree that the report is correct” ”I have audited and produced an audit report…” ”I certify that the shareholder meeting has adopted the annual report”

7. Proposed solution  Definition of four levels of liability  Recommendations on what to include within the signature and how to attach the commitment of the signature  Focus on the XBRL annual report and audit report for them to have legal validity

8. Signature Liability Levels High Liability Electronic Record signed by Legal Person Personal Liability Electronic Record signed by Natural Person Low Liability Electronic Record signed by Legal Person No Liability Authenticated Electronic Record Without contractual relationship With or without prior contractual relationship Not denied legal effect Must not give any legal effect! Legally binding signature for legal person Legally binding signature for natural person

9. The need for Liability levels Low Liability? No Liability Personal Liability Personal Liability or High Liability Personal Liability

10. Current activities  Discussion paper delivered to XBRL in Europe and XBRL International  Discussions with vendors regarding pilot implementations and adoption of signatures

11. More information  www.xbrl.se www.xbrl.se  www.xbrl.org www.xbrl.org  www.etsi.org www.etsi.org fredrik.hertz@se.ey.com

12. www.XBRL.se Brief drill-down Fredrik Hertz, MSc, CISSP Head of Working Group Authenticity and Security, XBRL Sweden fredrik.hertz@se.ey.com

13. Matrix overview MAY SHOULD Yes By contract Not Denied No Liability SHOULD SHOULD NOT MAY Data integrity only No No Liability 1 “No DC” denotesNo Declaration of Commitment present in signature, while “DC” denotesDeclaration of Commitment present in signature.

14. Implementation  (CommitmentTypeIndication)  (SignatureLiability)  Specification of when the application should present a warning

15. Useful in this context  Directive 1999/93/EC of the European Parliament and of the Council of 13 December 1999 on a Community framework for electronic signatures  IETF RFC 3275: "XML-Signature Syntax and Processing“  ETSI TS 101 903: " XML Advanced Electronic Signatures (XAdES)”