1. XBRL in Europe Projects, users and…
jurisdictions
Olivier Servais,
XBRL in Europe – Permanent Secretary
XBRL Int’l Steering Committee – Member
Wednesday, 8 June 2005

2. CEBS has taken the initiative to develop a common framework for reporting of
the solvency ratio and we are also developing a standardised framework for
prudential reporting of financial data. Formal consultation on concerning
common reporting has just been closed and consultation on financial reporting
runs until early July.
It is CEBS’ intention that these reporting frameworks would apply in all Member States. The proposed technical solution does not affect existing reporting systems and the recommended solution is based on XML/XBRLprotocol. CEBS is providing XBRLcoding free of charge to keep the installation costs as low as possible.
XBRL in Finland
Wednesday, 8 June 2005

3. XBRL in Finland
Wednesday, 8 June 2005

4. XBRL in Finland
Wednesday, 8 June 2005

5. XBRL in Finland
Wednesday, 8 June 2005

6. XBRL in Finland
Wednesday, 8 June 2005

7. Consolidated Profit and Loss Account
13/11/2018
Consolidated Profit and Loss Account
Blah
blah
Blah blah
Blah blah blah
Profit
925
448
Earnings per share
30.6
11.0
But if there isn’t agreement on what each of those details mean, naturally this is what you’ll get.
XBRL in Finland
Wednesday, 8 June 2005

8. Agenda X what ? In Europe ? What is XBRL ? Who’s driving XBRL ?
Overview of XBRL projects (not only) in Europe
Forming a jurisdiction
What is XBRL ?
Who’s driving XBRL ?
Overview of XBRL projects (not only) in Europe
Forming a jurisdiction
XBRL in Finland
Wednesday, 8 June 2005

9. eXtensible Business Reporting Language Benefits :
13/11/2018
eXtensible Business
Reporting Language
Universal XML-based royaly-free standard to improve publishing, exchange, analysis & comparison of financial data
Dedicated to : regulators, companies, banks, insurance, software vendors, analyst, auditors & accountants …
GAAP translated in a taxonomy
Benefits :
No need to re-type -> less time, no more errors, …
Improving control over the process of delivering detailed reporting to investors and other stakeholders
Limited in costs (royalty-free)
Multi-language & Multi-media
Enhance insights and transparency
Enhance quality and usability of information
Enhance IAS/IFRS conversion
Subset conçu par un comptable, et non par l’IT
Récent mais déjà largement adopté
XBRL in Finland
Wednesday, 8 June 2005

10. How does XBRL differ from XML
Multi-dimensional financial data representations
Financial reporting vocabularies (taxonomies)
Aliases and other definition relationships (linkbases)
Mathematical relationships between concepts
Flexibility about how to present items to users
Stucture for authoritarive policies and guidance
XBRL in Finland
Wednesday, 8 June 2005

11. XBRL Specification History
Increasing resources applied
Increasingly thorough
Higher standards
External
Deadline on 2.1
XML
Linking
FRIS
1.0
Boston
Mtg.
XML
Schema
Tampa
Mtg.
FRTA
1.0
XFRML
XBRL 1.0
XBRL 2.0
XBRL 2.0a
Tulip
XBRL
2.1
LRR
1.0
12/04
10/99
6/00
12/00
5/01
12/01
11/02
1/03
12/03
2000
2001
2002
2003
2004

12. Business Event Reporting
The Supply Chain
Regulatory
Filings
Financial
Statements
G/L Journal
Entry Reporting
External
Financial
Reporting
Business
Operations
Internal
Investment
and Lending
Analysis
Processes
Business Event Reporting
Audit
Schedules
Tax Filings
Participants
Stakeholders
and
Investors
Companies
Financial
Publishers
and Data
Aggregators
Trading
Partners
Management
Accountants
Auditors
Regulators
Software Vendors
XBRL in Finland
Wednesday, 8 June 2005

13. 13/11/2018
XBRL in Finland
Wednesday, 8 June 2005

14. Live and future software applications
Adobe
Cartesis
Corel
DecisionSoft
FRS
Fujitsu
I-Metrix of Edgar Online
Microsoft Office
Microsoft Business Solutions
Oracle
Rivet Dragon Tag
Semansys
SAS
SAP
Software AG
SUN
Tibco …
XBRL in Finland
Wednesday, 8 June 2005

15. Monitor, Audit & Control
13/11/2018
The Business Reporting Supplychain Based on XBRL GL
Source Systems
Reporting
Internal Reporting Pipeline
Annual(Quarterly) Reporting
Financial
Systems
Journal Entries
Sub Ledgers
Journalize
Accounts Payable
Accounts Receivable
Order Entries
Purchasing
Fixed Assets
Human Resource
Payroll
Regulatory Reporting
General Ledger
Aggregation Consolidation
Tax
Financial
Reporting
Decision Support
Manual
Transaction
Business Activity
Transaction Detail
Late Entries
Adjustments
Manual Entries
Business Activity Management
Extract & Transform
Financial Data Mart /
Repository
Business Events
Benchmark &
Analysis
Source Documents
Budgeting & Forcasting
Monitor, Audit & Control

16. But where are we in the life cycle?
XBRL in Finland
Wednesday, 8 June 2005

17. Significant benefits
Improving control over the process of delivering detailed reporting to stakeholders
Facilitating conversion to new or alternative reporting models (IFRS, Basel II, SOX)
Multi-media support (“Produce one, render many”) : web, CD, papier…
Interoperability with other XML (ebXML, Tax XML…)
Can compare facts across reporting entities
Authenticated data warranty
Ease-of-use : web browser, Excel, Access, SQL-database application
Enhance insights and transparency
Enhance quality and usability of information
Lower risks of ‘misunderstanding’
XBRL in Finland
Wednesday, 8 June 2005

18. Agenda What is XBRL ? Who’s driving XBRL ?
Overview of XBRL projects (not only) in Europe
Forming a jurisdiction
What is XBRL ?
Who’s driving XBRL ?
Overview of XBRL projects (not only) in Europe
Forming a jurisdiction
XBRL in Finland
Wednesday, 8 June 2005

19. International Steering Committee
XBRL international Governance & Operational structure
13/11/2018
Board of Advisors (5 to 19 members) Not Yet Established
Executive Committee* (7 members)
International Steering Committee
Chair: Kurt Ramin
appoints
elects
ISC chair
after term expires
member of
Immediate Past ISC Chair
Vacant
1st Vice Chair
Paul Penler
2nd Vice Chair
Walter Hamscher
* At Large EC Representation from ISC
elects
Established Jurisdiction Representatives CA
Bill Swirsky AU
Paul Phenix
IASB
Kurt Ramin NZ
Graeme Sinclair UK
Chris Rodgers DE
Norbert Flickinger US
Paul Penler* JP
Eiichi Watanabe * NL
Jan Pasmooij IR
Conor O’Kelly SP
Federico Florez *
ISC Representatives
At Large Representatives
Michael Ohata*
Vincent Bert
Mike Willis
Walter Hamscher
John Turner
Makoto Koizumi
Hugh Wallis
President **
Louis Matherne
Olivier Servais
ISC Seat
Key
No Seat on ISC
**Standing
Provisional Jurisdictions
Korea
Sweden
Belgium
France
Denmark

20. XBRL Int’l Governance & Operational structure
13/11/2018
ISC Subcommittees & Product Development Team
International Steering Committee
Chair: Kurt Ramin
Bylaws Subcommittee
Chair - Hugh Wallis
Executive Committee
Advisory Board Selection Subcommittee
Chair – Mike Willis
Vice Chair – Olivier Servais
XII Staff*
Working Groups
Finance Subcommittee
Chair – Kurt Ramin
Accounting
Chair: Daniel Roberts
Vice Chair: open
Assurance
Chair: Jan Pasmooij
Vice Chair: Bill Swirsky
Jurisdev Subcommittee
Chair – Liv Watson
Vice Chair: open
Basel II
Chair: Daniel D’Amico
Domain Chair: Josef MacDonald
Vice Chair: Marc van Hilvoorde
Nominating Subcommittee
Chair – Bill Swirsky
Vice Chair – Conor O’Kelly
General Ledger
Chair: Hugh Wallis
Vice Chair: Diane Mueller
Solutions
Chair: Michael Ohata
Vice Chair: Paul Snijders
Specification
Chair: Paul Warren
Vice Chair: Cliff Binstock
Product Development Team
Chair – Walter Hamscher
* Louis Matherne, President
Marisa Chung, Business Development & Operations Manager
Tracey Tarinelli, Program Manager
Peter Calvert, Web Content Manager (contract)

21. XBRL in Europe The Project Theme : “Speeding up the development
13/11/2018
XBRL in Europe
The Project
Theme : “Speeding up the development
and adoption of XBRL in Europe”
Supported by the 6th Framework Program :
IST Networked businesses and governments
Focus:
Increase awareness
Founding jurisdictions
Internet
Permanent secretariat
Key features
Neutral & Independent
Two-way dialogue
ICT dimension
Infrastructure
Outcome
XBRL in Finland
Wednesday, 8 June 2005

22. Agenda What is XBRL ? Who’s driving XBRL ?
Overview of XBRL projects (not only) in Europe
Forming a jurisdiction
What is XBRL ?
Who’s driving XBRL ?
Overview of XBRL projects (not only) in Europe
Forming a jurisdiction
XBRL in Finland
Wednesday, 8 June 2005

23. 30+ projects ! XBRL projects in Europe National Pan-european
UK Inland Revenue
UK Financial Services Authority
UK Companies House
Datev/Bundesbank
Danish Commerce & Companies (DCCA)
Bank of Spain
Bank of Belgium – Balance sheet office
Belgian Banking supervisors
Dutch Water Boards
Dutch Statistics agency (CBS)
Dutch government
Pan-european
XBRL in Europe – FP6
ICISA (CRAS group)
Eurostat (feasability study)
IASB
CEBS – COREP (Basel II)
30+ projects !

24. Projects and future applications in
13/11/2018
Projects and future applications in
Organisation
Application
Project
Target
Target date
Balance sheet deposit
Collection of raw data
Statistical process
Interface to other reg’s
NBB taxonomy devpt
Review the supply chain
Review the process
Reporting tool
270,000/yr
1 Apr, 2007
Prudential & Financial control for Banks, insurances, investment firms, pension funds and listed companies
Prudential (IFRS) Banking reporting (Schema A)
Prudential Banking reporting (Basel II)
Every consolidated bank
Every bank
1 Jan, 2006
1 Jan, 2007
Coordinating actions for banks
IFRS Bank taxonomy devpt
Balance sheet deposit (Tax on web)
Awareness & Evaluation
Review of process
210,000/year
TBD
Awareness
Evaluation

25. 13/11/2018
€350+ Millions
Before speaking about jurisdictions, it may be interesting for the EU to know how XBRL is now expanding in some EU countries
XBRL in Finland
Wednesday, 8 June 2005

27. XBRL in Finland
Wednesday, 8 June 2005

28. Projects and future applications in
Contribution to IFRS FS taxonomy extensions
Financial statements to Bank of Spain
Pilot project at the Agency for registrations of companies & balance sheet
Spanish Stock Exchange
Anti-Money Laundering
Recent new members:
Ministry of Finance
Ministry of Industry
Tax Agency
XBRL in Finland
Wednesday, 8 June 2005

29. Self-assessment MPSnet: il workflow
Tuesday, 13 November 2018

30. Borsa Italiana’s vision concerning XBRL
Borsa Italiana view of XBRL
Borsa Italiana’s vision concerning XBRL
Listed
comps
Adobe Intelligent
Form
(pre-defined)
Excel
(pre-
defined)
XBRL
instance
builder
The instance document could also be sent to:
Listed company’s website
Info vendors
Media
Regulators
NIS
Borsa Italiana public website
XBRL validator
Errors msgs
DBMS
XML
XBRL
Borsa
Italiana

31. Insurance Corporation - Today
Federal Deposit
Insurance Corporation - Today
8 200 Banks
FDIC
OCC
FRB
OTS
NCUA
Multiple copies of data exist inside multiple agencies (error prone)
Avg. of days to receive, validate + publish filings (not timely)
Estimated processing costs over next 10 years - $65 million (costly)
March 2003 reports had nearly errors that needed to be corrected (integrity issues)
1 000 basic math errors
quality (validation) errors
XBRL in Finland
Wednesday, 8 June 2005

32. Insurance Corporation - Future
Federal Deposit
Insurance Corporation - Future
8 200 Banks
FDIC
OCC
FRB
OTS
NCUA
FFIEC
XBRL open source data standard used for communicating report requirements, validations, instructions (timeliness/flexibility)
Filers required to submit data in XBRL format over the web (automation)
Multiple sources of data => SINGLE SOURCE (integrity)
Processing Time days => 32 Days (timeliness)
Processing Costs $65M => $39M, a savings of $26M (cost/efficiency)
Cost savings to the U.S. banking agencies accrue when the system is extended to other data series
XBRL in Finland
Wednesday, 8 June 2005

33. Operational launch is planned for the third quarter – October 1, 2005
13/11/2018
Operational launch is planned for the third quarter – October 1, 2005
Additional information available at:

34. XBRL kick-off meeting Poland
Friday, 25 February 2004

35. XBRL kick-off meeting Poland
Friday, 25 February 2004

36. Agenda What is XBRL ? Who’s driving XBRL ?
Overview of XBRL projects (not only) in Europe
Forming a jurisdiction
What is XBRL ?
Who’s driving XBRL ?
Overview of XBRL projects (not only) in Europe
Forming a jurisdiction
XBRL in Finland
Wednesday, 8 June 2005

37. XBRL in Europe Jurisdictions Established Ireland Germany Spain
The Netherlands
United Kingdom
Provisional
Sweden
Belgium
Denmark
France
In construction
Czech Republic
Italy
Hungary
Norway
Poland
Portugal
In project
Slovenia, Austria, Greece, Luxemburg, Malta
Finland ?

38. Jurisdiction start-up Benefits
Federate local interests around a common project
Sharing experiences on local, European and International level
Recognition of the group as the only official XBRL organisation in your country
Access for named working party individuals to XBRL International internal resources
Ability to submit taxonomies for approval to XBRL International
Ability to participate in XBRL International working groups and beeing involved in XBRL developments around the world
Voting Representation on Steering Committee (Established)
Eligible to host International Conference
From Provisional to Established : A provisional jurisdiction is only allowed to remain provisional for two years
XBRL in Finland
Wednesday, 8 June 2005

39. Jurisdiction start-up Roadmap
Identify ALL local key players for
Supervisors and regulators
Federations of users : banks, accountants, securities & companies
Checking connections at firms, software vendors within European and International consortium
Identify one or two leader(s) from a neutral, independant and agreed entity
Increase and leverage local and national contacts and prepare a first public event
Submit the application form to XBRL International
Create the first working groups (Domain & MarCom at least) and identify the first contributors
Identify (and start) a first (or more) federating XBRL-based project
All that in close connection with XBRL International and XBRL in Europe
XBRL in Finland
Wednesday, 8 June 2005

40. 1st European XBRL Conference for Financial Services
Theme : How XBRL will improve Financial Services reporting by 2006
Hosts : XBRL in Europe, with CEBS
Keynote speakers: José Maria Roldan (Chairman of Committee of European Banking Supervisors), Pierre-Yves Thoraval (Member of Basel Committee), Peter Praet (Member of the Board of CBFA), Tom Jones (Vice-Chairman of IASB) and representatives of the European Commission and banks (Deutsche Bank, San Paolo IMI + Borsa Italiana)
When: 29 June – 17.00
Where: Chartered Accountants Hall, London
Size: 200+ attendees
Audience profile: Bankers and supervisors
XBRL in Finland
Wednesday, 8 June 2005

41. Kiitos !  olivier.servais@xbrl-eu.org +32 2 702 64 82
13/11/2018
Kiitos !   
Vision: les compétences sont indéniables
XBRL in Finland
Wednesday, 8 June 2005