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XBRL PILOT TASK FORCE MEETING

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Presentation on theme: "XBRL PILOT TASK FORCE MEETING"— Presentation transcript:

1

2 XBRL PILOT TASK FORCE MEETING
Introduction of XBRL in Spanish SBS-data collection Raquel de Río 19th April 2007 INSTITUTO NACIONAL DE ESTADÍSTICA (INE)

3 Introduction Working group XBRL/INE composed by members
from different Units in INE: Data-collection Unit Computer Unit Methodology Unit Production Units

4 Introduction Concerning Eurostat pilot study, some works have been
carried out by the group: Taxonomy revision Pilot study: selection of the sample Pilot study: implementation Meetings with enterprises

5 Test description Selection of the sample:
200 large enterprises from the Industry (50%) and Service sectors 17 of them belonging to XBRL-Spain Association

6 Answers received 6 answers were received: Enterprise Activity sector
Transportes Colectivos S.A. Services (Passenger road transport) Transportes urbanos de Sevilla S.A. AENA Services (Supporting transport activities) EDICOM Services (Computer activities) Software AG Spain Transportes Asociados de la Industria Cárnica Industry

7 Test works - several internal meetings and meetings with Software AG
- satisfaction surveys - Power-Point presentation (for the introductory part)

8 Test works - documentation on how to use the Fujitsu Instance creator
- INE XBRL taxonomy and extensions - example instance - visits to the enterprises involved in the test plan

9 Test final results Finally,
- Only three enterprises agreed to hold a meeting with INE - Another one agreed to receive by the already mentioned documentation

10 Test final results Only two instances have been received on 4-18-2007
from: - Software AG Spain - AENA (incomplete instance only with employment data)

11 Test evaluation The objectives proposed were:
To know whether or not reporting with XBRL can gain widespread acceptance among business and NSIs To come to clear conclusions about whether or not XBRL can be used to increase the efficiency of statistical reporting by businesses Have we achieved these objectives?

12 Test evaluation Have we achieved these objectives?
It seems that is premature that XBRL can gain widespread acceptance among firms at this moment The second objective could not be evaluated with this type of test

13 Test evaluation Other conclusions are:
The enterprises could consider XBRL as an option to reduce their statistical burden when it can be incorporated in their financial products no requiring any expenditure effort. On the other hand, Fujitsu Xwand Instance Editor was no friendly user

14 Future works in INE Among the strategic lines of Spanish Statistical Plan in period are: The decrease of the burden on enterprises The modernization of the statistical activity using information and communication technologies

15 Future works in INE Without any doubt,
The implementation of XBRL with success would to help to get these objectives but There is still a long way to go

16 Future works in INE The conclusion of test phase has been: The use of XBRL by the enterprises will only suppose a decrease of burden when the accounting software includes the option of extracting the information required by INE automatically

17 Future works in INE To achieve this aim depends on various factors. Some of them will depend on INE but others not What can INE do? To develop taxonomies for each questionnaire? This seems not to be a good strategy

18 Future works in INE The idea should be to develop the less possible number of taxonomies with the property of stability This would imply a higher number of users Software companies would become interested in developing their own applications based on the taxonomies

19 Future works in INE At this moment, INE is working on the standardisation of the definition of economic variables The aim is to design a taxonomy composed by the common variables of: Structural Business Statistics Research and Development Survey Information and Communication Technology Survey Environment Survey And module extensions for the specific information of each survey

20 Thank you very much for your attention
Any questions?


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