International Financial Reporting Standards The views expressed in this presentation are those of the presenter, not necessarily those of the IASC Foundation or the IASB 15 February 2014 © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. IFRS Taxonomy Present and Future

© 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 2 Agenda Introduction IFRSs and IFRS Taxonomy IFRS from FINREP Perspective Future Challenges Q&A

© 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 3 IASB and IASC Foundation The IASC Foundation is the oversight body of the IASB and promotes activities in support of IFRS IASB is made of 14 members making the Standards and has the technical expertise

© 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 4 XBRL at the IASC Foundation Trustees Decision in 2001 Part of the IFRS adoption and implementation Integrated in IFRSs development Quality-Assurance of the IFRS Taxonomy Maintenance and Coordination The Mission of the IASC Foundation XBRL Team is to provide users an IFRS XBRL taxonomy with the same quality, in the same languages and at the same time as the IFRSs are available

© 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 5 Deliverables What do we provide A licence-free IFRS Taxonomy consistent with IFRS Bound Volume Translations Viewers, documentation and tools Assistance What do we not provide Industry and/or national CP extensions (i.e. financial institutions, oil & gas) Comments on implementation

© 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 6 Agenda Introduction IFRSs and IFRS Taxonomy IFRS from FINREP Perspective Future Challenges Q&A

Objective and Users of Financial Statements Objective –provide information about the financial position, performance and changes in financial position of an entity that is useful to a wide range of users in making economic decisions Users –present and potential investors –employees –lenders –suppliers and other trade creditors –customers –governments and their agencies –public © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 7

Educational session - Sept '08 © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 8 IFRSs IFRSs as a set of standards and interpretations –Standards (39) –IASs (International Accounting Standards) –IFRSs (International Financial Reporting Standards) –Interpretations (24) –SIC (Standing Interpretations Committee) –IFRIC (International Financial Reporting Interpretations Committee) Additional publication –Preface to IFRSs, Framework, Due process handbook, guidance (best practice), …

Standard Approach © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 9 IFRS 1 IFRS 2 IAS 1 … … IAS 2 IFRS Taxonomy

IFRS Taxonomy Sorted by IFRSs © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 10

IFRS Taxonomy Sorted by Structure of Financial Statements © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 11

IFRS Taxonomy Hierarchies for Statements © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 12

IFRS Taxonomy Hierarchies for Notes © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 13

IFRS Taxonomy Intersection Tables © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 14

IFRS Taxonomy Dimensions © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 15

Comparability and Relevance Preparers Extensions Receivers Extensions IFRS Taxonomy © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK RelevanceComparability

Extensions of IFRS Taxonomy © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK IFRSs compliant Creating new hierarchy for a specific purpose Adding a new disclosure which is common under IFRS for a particular region or industry Detailing an existing IFRS disclosure Creating entry points common for a particular industry or region Excerpting the IFRS Taxonomy Out of IFRSs Adding a non-IFRS disclosure required by local GAAP together with IFRS financial statements Reuse of single IFRS Taxonomy concepts in a non-IFRS report for consistency and reducing reporting burden

© 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK Agenda Introduction IFRSs and IFRS Taxonomy IFRS from FINREP Perspective Future Challenges Q&A

IFRS Taxonomy as a Base IFRS Taxonomy as the IFRS reference taxonomy Examples of parties interested in building IFRS Taxonomy extensions include: –national and regional supervisors and regulators, statistical offices, tax agencies, central banks –jurisdictions –others (commercial banks, analysts, data aggregators, etc.) Latest FINREP taxonomies use the IFRS Taxonomy 2006 and extend from it IFRS Taxonomy 2008 is far more up to date, reflecting the latest changes to IFRSs as issued by the IASB Financial institutions considering use of the IFRS Taxonomy 2008 for other kinds of reporting © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 19

Harmonisation and Reduction of Reporting Burden Harmonisation of financial reporting in various reporting scenarios Greater comparability of financial data Reduction of the reporting burden for financial institutions avoiding multiple mappings From the business perspective it is crucial to retain the accounting characteristics of IFRS Taxonomy concepts Different reporting environments of financial institutions using the IFRS taxonomy must not result in data conflicts for preparers of financial information Advantages for both sending and receiving institutions © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 20

Continuous Time Line Alignment Time alignment highly considered not only for extensions development but also for translations IFRS Taxonomy releases at the same time as the IFRS Bound Volume FINREP taxonomy update time line defined according to the IFRS Taxonomy time line IFRS Taxonomy 2009 development time line Backward compatibility of disclosures © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 21

Consideration of Other Reporting Environments IFRS Taxonomy used in two different reporting environments: open and closed reporting cycles Open reporting cycle as the common use of the IFRS Taxonomy –Receiving institution provides a taxonomy (for example the IFRS Taxonomy) and the preparers may extend it and report back the instance document together with the entity-specific taxonomy extension FINREP operating in a closed reporting environment –Financial institutions are not allowed to amend/extend the FINREP taxonomy/templates © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 22

Usage of IFRS Taxonomy Guide and Tools Different uses of the IFRS Taxonomy increase the importance of ensuring that its extensions are consistent Consistency supported by the means of the IFRS Taxonomy Guide IFRS Taxonomy Modules Manager IFRS Taxonomy Viewer © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 23

© 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK Agenda Introduction IFRSs and IFRS Taxonomy IFRS from FINREP Perspective Future Challenges Q&A

Challenges and future © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK IFRSs UpdatesImplementations Interoperable Taxonomy Architecture New Technologies IFRS for PEExtensions IFRS

Opportunities XBRL Team is in the position to provide the worlds integrating capital markets with a common language for financial reporting based on IFRSs IFRSs are the stable solid platform for IFRS Taxonomy development XBRL developments at the IASC Foundation are aligned and integrated with the IFRSs developments Additional developments (extensions) shall ensure comparability and alignment with IFRSs © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. 26

© 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK Agenda Introduction IFRSs and IFRS Taxonomy IFRS from FINREP Perspective Future Challenges Q&A

© 2008 IASC Foundation. 30 Cannon Street | London EC4M 6XH | UK Questions or comments? Expressions of individual views by members of the IASB and its staff are encouraged. The views expressed in this presentation are those of the presenter. Official positions of the IASB on accounting matters are determined only after extensive due process and deliberation.