1. 19th XBRL International Conference “Reducing regulatory burden with XBRL: a catalyst for better reporting” June 22-25, 2009 Paris, France
Track 3 - SURFI French Project Implementation
Julien REBER / Hedi SELLAMI - INVOKE
Wednesday 24th of June 2009

2. Agenda SURFI Project The XBRL Choice
Preparers/Filers - SURFI Implementation
Disclosure Process
Invoke XBRL Portal

3. SURFI Project Unified financial reporting system
Modernization of a 1993 system
Unification and harmonization
French Regulatory banking reporting
Reporting system simplification by 26%
Duplicated values removal
New data
A new reporting

4. SURFI Project Based on the XBRL format New disclosure dates
Disclosure process modification
Tight deadlines
XBRL implementation
Project planning

5. SURFI Project Jun. 2010 First Disclosure Jan. 2010
Dec. 2008
First SURFI Taxonomy Version
Jun. 2009
Applied Taxonomy
Jan. 2010
Test Environment (Banque de France)
Jun. 2010
First Disclosure

6. Agenda SURFI Project The XBRL Choice
Preparers/Filers - SURFI Implementation
Disclosure Process
Invoke XBRL Portal

7. Limiting participants constraints With real benefits of native XBRL
SURFI : The XBRL Choice
Limiting participants constraints
Shared by all participants
Preparers / Filers / Auditors / Regulators / Analysts
Exponential need for reporting
More frequent / deeper / faster
Harmonization
European regulatory reporting (COREP, FINREP)
Higher expectations for
Transparency / quality / accessibility / personalization
With real benefits of native XBRL
Use a public taxonomy as a setting standard
Establishment of common tools regardless the software
Native integration of businesslike controls

8. Agenda SURFI Project The XBRL Choice
Preparers/Filers - SURFI Implementation
Disclosure Process
Invoke XBRL Portal

9. Preparers/Filers - Implementation
XBRL Convertor
Lack of time
Keep current production systems
Lack of XBRL knowledge
Regulatory taxonomy (more or less bounded)

10. Preparers/Filers - Implementation
One main objective: Meet SURFI project deadlines
-> Shortest and Fastest way
Data Production
Input Data
Current Systems
XBRL Conversion
Disclosure

11. Agenda SURFI Project The XBRL Choice
Preparers/Filers - SURFI Implementation
Disclosure Process
Invoke XBRL Portal

12. Disclosure Process Stakes
Coming from different systems within the same group
Several XBRL flows
Avoid late disclosure penalty
Disclosure date - Deadlines
Avoid delays due to exchanges with the regulator
Regulatory XBRL documents compliance
Visualization of regulatory reporting documents before transmission
The signatory is not always the producer

13. Disclosure Process XBRL Conversion Visualization Control (UBMatrix)
Data Production
Input Data
Current Systems
XBRL Conversion
XBRL Documents
Management
INVOKE
XBRL Portal
Visualization
Control (UBMatrix)
Validation
Disclosure

14. Agenda SURFI Project The XBRL Choice
Preparers/Filers - SURFI Implementation
Disclosure Process
Invoke XBRL Portal

15. Invoke XBRL Portal

16. Preparers/Filers Expectations
Easy access to updated regulatory information
Disclosure deadlines management
View the XBRL produced document in a comprehensible format
Validate the document technical and business compliance

17. XBRL Portal Features XBRL flows centralization Disclosure calendar
Tracking and visualization
Analysis and control
Validation and disclosure

18. XBRL Portal Implementation
Quick implementation
No XBRL knowledge needed
Without challenging upstream systems

19. Measurable advantages
Web Portal
Centralized regulatory information
Complete control of the calendar for filings
Updated information shared by all users
XBRL Spreadsheet
Visualization of filings in the table form
Businesslike controls and XBRL technical validation (UBMatrix)
Forms personalization

20. SURFI - XRBL Key benefits
Standard format
Shared by all participants
Quality of decision-making
Simple adaptation to a new taxonomy version
Embedded businesslike controls
Open format
Compatibility between all market regulatory tools

21. Q&A
We have the answers, do you have any question?
Contact Us