: four years of XBRL in the Italian Business Register Luogo, data Paola Fumiani Bucharest 14 June 2013

2 The rules  Mandatory for all companies except companies that produce Annual Financial Reports according to IFRS  Filing limited to Primary Financial Statements Balance sheet (assets and liabilities) Income statement (profit and loss account)  Companies needing extra facts definition are allowed to add the PDF Annual account to the XBRL instance document Xbrl filing in the Italian Business Register

3 2009: balance sheets  xbrl instance documents =  2,5%  percentage error = 21,4% 2010: balance sheets  xbrl instance documents = 940,751  98%  percentage error = 2 % 2011 : balance sheets  xbrl instance documents =  98,66%  percentage error = 0,25% 2012 : balance sheets  xbrl instance documents =  98,9%  percentage error = 0,13% Some figures

4 Q: Is XBRL useful for the Italian Business Register? Q: What does the Register do with all this XBRL data? … A: We save money and offer new services !! Benefits from XBRL adoption

5 More than 95% of PDF documents are replaced by XBRL files making possible automatic checks in the BR back-office  Stop end-users from uploading non acceptable dossiers (- 2%)  Warn about inconsistency of annual accounts (- 20%)  Trap instance documents that are invalid or not well-formed Speeding up back-office activity

6 The BR back-office removes manual checks From year 2013  Only very complex files processed  Top level automatization reached

7 Setting up a new service The business register can supply single annual accounts or aggregations by activity code, turnover, legal form on territorial base

8 New Financial analysis Benchmark Services Example: Comparision of key accounting ratios - Return on Investment Vs. Return on Equity. Segment average Selected company

9 The new taxonomy for the complete financial report  extends the present GAAP IT taxonomy with the disclosure notes  produce the navigable financial report navigable financial report  adoption plan year piloting phase first tests from May 2013 year 2015 compulsory for complete XBRL annual account filing A What’s next ?

10 Registroimprese.it speaks English

11 The Italian company profile XBRL version 11

Thanks for the kind attention!