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Integrated Scoreboard proposal of a reporting model Solvency II

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Presentation on theme: "Integrated Scoreboard proposal of a reporting model Solvency II"— Presentation transcript:

1

2 Integrated Scoreboard proposal of a reporting model Solvency II
Financial Spanish GAAP US GAAP GCR Environmental Integrated Scoreboard Taxonomy Social Corporate Governance Actual possible future

3 Integrated Scoreboard taxonomy (IS-FESG)
Integrated Scoreboard Taxonomy - Conceptual architecture Integrated Scoreboard taxonomy (IS-FESG) External taxonomies Entry point Fianancial module Spanish GAAP KPI & KRI module General data for Identification module DGI

4 2. Three levels of complexity
Integrated Scoreboard Taxonomy – Representation of the KPIs Complex Indicators Composed Indicators Basic Indicators F1 S1 S2 E1 G1 Financial Social Governmental Environmental Profit People Pilots Planet S1/S2 E1/E2 /(S2+E2) Multidimensional representation 2. Three levels of complexity 3

5 How XBRL is ready to support it? - Latest technologies in XBRL
integration – connection - extension 4

6 Data Point Model + Dimensions
IS-FESG Taxonomy: integration – connection - extension The integration (1) : multidimensional representation Data Point Model + Dimensions 5

7 IS-FESG Taxonomy: integration – connection - extension
The integration (2) : levels of complexity representation New dimension Composed: Supplier expenses / Revenue Complex: Energy consumption /Revenue 6

8 $Composed = ($EmployeeBenefits div $Revenues)
IS-FESG Taxonomy: integration – connection - extension The integration (3) : validation constraints rules Financial Indicators Economic efficiency KPI_F1 Revenues KPI_F2 Suppliers expenses KPI_F3 Added Value KPI_F4 Employee benefits KPI_F5 Gross Profit KPI_F6 Financial expenses KPI_F7 Owners retribution KPI_F8 Public Administration expenses KPI_F9 Economic contribution to the community KPI_F10 R&D&I investment KPI_F11 Profitability KPI_F12 Level of debt KPI_F13 Treasury shares Environmental indicators Energy efficiency KPI_E1 Energy consumption Composed Revenues Employee Benefits Formula Specification 1.0 XPATH Expression: $Composed = ($EmployeeBenefits div $Revenues) 7

9 IS-FESG Taxonomy: integration – connection - extension
The integration (3): Assertion type rules validation 8

10 [320000] Raw materials and consumables used
IS-FESG Taxonomy: integration – connection - extension The connection: financial indicators (IS-FESG) correspondence with IFRS Formula Specification 1.0 Integrated Scoreboard Taxonomy [320000] Raw materials and consumables used [320000] Other expenses Suppliers expenses XPATH Expression: $SupplierExpenses = ($ifrs_RawMaterialConsumablesUsed + $ifrs_OtherExpenses) 9

11 Integrated Scoreboard
IS-FESG Taxonomy: integration – connection - extension The connection: financial indicators (IS-FESG) correspondence with IFRS CV Integrated Scoreboard Taxonomy 10

12 IS-FESG Taxonomy: integration – connection - extension
Extension for the definition of risk frame using COREP taxonomy COREP Strategic objectives XBRL 2.1 Specification 11

13 IS-FESG Taxonomy: integration – connection - extension
Extension in the IS-FESG Taxonomy: COREP taxonomy IS-FESG COREP 12

14 IS-FESG Taxonomy: integration – connection - extension
Extension in the IS-FESG Taxonomy: COREP taxonomy Strategic objectives COREP 13

15 Integrated Scoreboard taxonomy (IS-FESG)
Conceptual architecture with ice modeling practice Integrated Scoreboard taxonomy (IS-FESG) External taxonomies Entry point Fianancial module Spanish GAAP KPI & KRI module General data for Identification module DGI

16 The Integrated Scoreboard reporting model
It is the result of the project led by The Spanish Accounting and Business Administration Association (AECA). Integrated Scoreboard Working Group

17 Integrated Scoreboard (IS-FESG)
Integrated Scoreboard project - Results domain Framework Integrated Scoreboard (IS-FESG) Analyzable IT Verifiable Taxonomy Homogeneous IS-FESG Taxonomy applicability Real reports IBEX 35 14,29 % Test cases

18 Integrated Scoreboard project - Timeline of activities
Creation of the Integrated Scoreboard working group and project starts Final Integrated Scoreboard Framework Jul Dec Aeca submission to the IIRC Discussion paper Final version XBRL Taxonomy IS-FESG Oct March 1st round revision with the entities of the WG March 3rd draft & revision May Web platform construction for reporting and analysis of integrated reports 2011 2012 2013 Oct Empirical study: “The Integrated Report. First approaches to its application. The Spanish case”. (J. L. Lizcano, Francisco Flores and Manuel Rejón) Jan 1st draft of the Integrated Scoreboard Framework and XBRL Taxonomy Apr 2nd draft & revision Jun 4rd draft & revision Sep Test cases: (Spanish listed companies) BBVA, Inditex, Enagas, Indra and Telefónica March Launch of the project website: is.aeca.es

19 XBRL International acknowledgment
Integrated Scoreboard project – International acknowledgement 2013 Apr XBRL International acknowledgment National Banks: 18,75 % Listed companies: 20,00 % Period : now - aecareporting.com

20 Thank you for your attention María Mora (maria.mora@atos.net)
XBRL 26th International Conference Dublin, 16th-18th April 2013 Thanks for your attentions Thank you for your attention María Mora For more information visit: Project website: is.aeca.es Executive document: Integrated Scoreboard Project XBRL International acknowledgment: Publication in IJDAR: The Integrated Scoreboard Taxonomy approach by J.Mora & M.Mora AECA Pronouncement: The Integrated Scoreboard (IS-FESG) and its XBRL Taxonomy

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