Main objectives XBRL España Federico Flórez Information Systems Director Bank of Spain Managing Director XBRL España 10th XBRL International Conference.

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Presentation transcript:

Main objectives XBRL España Federico Flórez Information Systems Director Bank of Spain Managing Director XBRL España 10th XBRL International Conference Brussels, November 2004

Main objectives XBRL España  XBRL in Spain  Objectives  Conclusions a genda

Main objectives XBRL España XBRL in Spain FOUNDER MEMBERS April CURRENT MEMBERS November

Main objectives XBRL España XBRL in Spain General Meeting President Strategic Commission Audit Committee General Secretary Facilitator Board Consultancy & Mediation Marketing & Communication Management & Secretary Accounting Basel II Taxonomies Technology Development & Training Vicepresident DGII PP IPPPGC90

Main objectives XBRL España 1 Implementation, adoption and national & international development of XBRL to unify the standards applicable to reporting financial & business information. Joint efforts of public and private entities to implement and adopt XBRL as well as provide domestic and international representation at: Objectives 2 » People » Organizations » Institutions » Authorities » Corporations » Public and private entities XBRL in Spain

Main objectives XBRL España Ensure XBRL image and prestige. Uphold interest of the implementation, adoption and development of XBRL in Spain. Promote collaboration among members, fuelling initiatives around XBRL projects. Collaborate with Regulators and Authorities in the development, implantation and recognition of XBRL. Coordinate initiatives, events, research and similar activities, to implement, adopt and develop XBRL in Spain. 3 4 Objectives XBRL in Spain

Main objectives XBRL España Promote and participate in research and development of XBRL, national & international, providing consultancy to members and third parties. Plan and implement the adoption and development of XBRL in Spain and abroad. 6 5 Objectives XBRL in Spain

Main objectives XBRL España XBRL in Spain Members

Main objectives XBRL España Memberships commitment of permanence: 3 years All the financial reporting actors represented Regulators as catalyst since the beginning XBRL in Spain

Main objectives XBRL España Domestic taxonomies development International taxonomies development Jurisdiction development Objectives

Main objectives XBRL España Taxonomies for Securities Commission of Spain Public and periodic reports Four models of companies: General Insurance Financial Investment funds Domestic taxonomies development Objectives

Main objectives XBRL España Taxonomies for Central Mercantile Register in Spain PGC90 (General Accounting Plan '90) Domestic taxonomies development Objectives

Main objectives XBRL España Taxonomy DGI (General Identification Data for companies) Q to be released. Spanish accounting standards for public administration Domestic taxonomies development Objectives

Main objectives XBRL España Domestic taxonomies development Objectives

Main objectives XBRL España IFRS Taxonomy Working Group Hosted by the Bank of Spain Primary Financial Statements for Banking to be translated to Spanish. Extended when necessary and tested by Q International taxonomies development Objectives

Main objectives XBRL España XBRL Day A big event oriented to business and decision making managers attendants in 2004 edition. Relevant press coverage in newspapers as well as in financial media. Promoting for new members. Target 2005: 40 members Jurisdiction development Objectives

Main objectives XBRL España Conclusions A Jurisdiction must involve all actors in the reporting progress The taxonomies development are critical for implementation of real projects We have a great opportunity for the next two years