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Maciej Piechocki IASCF XBRL Team DWG Chair XBRL Poland Thursday, 8th of February 2007, Lisbon Implementation and Development of XBRL Poland
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XBRL Poland Jurisdiction Development Past, Current and Future Activities Drivers of XBRL Implementation Agenda
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XBRL Poland Jurisdiction Development Kick-Off Conference (February 2005) first XBRL public event XBRL introduced by IASCF, XiE, XBRL Denmark Round Table (April 2005) statutory tasks – incorporated in the bylaws legal form – neutral, independent, trustworthy first project – creation of the public taxonomy neutral facilitator
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XBRL Poland Jurisdiction Development Round Table – Statutory Tasks: contribute to improvement of the existing reporting standards promote the knowledge of the current status and trends in electronic reporting standards develop economy and science by works aimed at development of XBRL undertake and reinforce other entities in their activities related to development and promotion of XBRL enable co-operation of the Association members within the above-specified scope of activities
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XBRL Poland Jurisdiction Development Round Table - Legal Form: neutral, independent according to the act of the 7-th April 1989 “Prawo o stowarzyszeniach” /Dz. U. Nr 20, poz. 104 with later changes/ Association “XBRL Polska” is an independent not-for-profit association trustworthy: the Association is registered with no. 248935 and therefore is a legal entity
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XBRL Poland Jurisdiction Development Round Table – First Project: development of the public taxonomy IFRS extension vs. building new taxonomy based on Polish Accounting Act on-financial, financial, insurance entities
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XBRL Poland Jurisdiction Development Round Table – Neutral Facilitator: neutral third party, namely Accountants’ Association in Poland (in Polish Stowarzyszenie Księgowych w Polsce – SKwP), facilitated the creation of association “XBRL Polska” and is champion of the jurisdiction.
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XBRL Poland Jurisdiction Development Founding Members Assembly (September 2005) agreement on bylaws organisational structure of the association XBRL International membership election of the Board and Revision Committee members, Secretary General fee structure
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XBRL Poland Jurisdiction Development Founding Members: ordinary members supporting members (12 + 1)
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XBRL Poland Jurisdiction Development General AssemblyRevision Committee BoardSecretary General Taxonomy Working Group Chair Co-Chair CICo-Chair FI Subgroup CI Subgroup FI Marketing & Communication W.G. Decisions Strategy Management Operations Projects Working Groups
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XBRL Poland Jurisdiction Development Fee Structure (in €) supporting members Turnover < 2,5 Mio. Euro 1.000 € 2,5 Mio. Euro - 25 Mio. Euro 2.225 € > 25 Mio. Euro5.000 € ordinary members: free of charge
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XBRL Poland Jurisdiction Development Past, Current and Future Activities Drivers of XBRL Implementation Agenda
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XBRL Poland Past, Current and Future Activities Taxonomy Development: communication channel Internet tele and videoconferences SharePoint regular meetings workflow building of the information model revision of the information model development of the taxonomy revision of the taxonomy publication of the taxonomy
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XBRL Poland Taxonomy Framework PL-GP PL-GP-CIPL-GP-BIPL-GP-IS PFS PL-GP-SZ PL-GP-RA Instance Documents Instance Documents Taxonomy Extension PL-GP-ED PL-GP-CI-EDPL-GP-BI-EDPL-GP-IS-ED EDAP Modules Selector
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XBRL Poland Past, Current and Future Activities XBRL Promotion: meetings with private companies and public authorities information about standard and association activities target: new members and active involvement in the XBRL implemenation results: new projects, new members
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XBRL Poland Past, Current and Future Activities XBRL Promotion: seminar: September 2005: NBP implements XBRL conference: September 2006: COREP & FINREP in Europe National Bank of Poland, Polish Banks Association, Association “XBRL Polska”, Speakers: Bank of Spain, Bank of France, National Bank of Belgium, XBRL in Europe Attendees: 100 people (70 largest banks) articles, papers, consultations, etc.
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XBRL Poland Past, Current and Future Activities XBRL Implementation – National Bank of Poland: target: prudential (Basel II) & financial (IFRS, Polish GAAP) reporting XBRL taxonomies COREP, FINREP Polish extensions start: March 2007 (COREP), June 2007 (FINREP) mandatory format for over 700 banks
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XBRL Poland Past, Current and Future Activities XBRL Implementation – Companies House: target: publication of financial statements of entities fulfilling requirements defined in P.A.A. XBRL taxonomies Polish GAAP, IFRS (Polish labels) start: 2008 XBRL as voluntary format for 13.000 entities price differentiation as an incentive
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XBRL Poland Past, Current and Future Activities XBRL Implementation – Listed Companies: Assumptions: public event establishment of the working group gradual XBRL implementation reuse of existing taxonomies
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XBRL Poland Past, Current and Future Activities XBRL Implementation – Listed Companies: Public event topic: standardization of the financial reporting leaders: Stock Exchange, FSA, XBRL Poland speakers: auditors, investors, IASCF, NBP attendees: listed companies, analytics, investors, brokers
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XBRL Poland Past, Current and Future Activities XBRL Implementation – Listed Companies: establishment of the working group committed parties: Stock Exchange, Listed Companies Association, FSA, XBRL Poland Task: decision on information model based on IFRS indication of companies participated in Pilot Project analyse of differences of presentation between current IFRS statements and IFRS taxonomy
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XBRL Poland Past, Current and Future Activities XBRL Implementation – Listed Companies: gradual XBRL implementation: New Market (obligatory) listed companies from Main Market (voluntary) listed banks from Main Market (voluntary) lessons learned XBRL as obligatory format?
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XBRL Poland Past, Current and Future Activities XBRL Implementation – Listed Companies: reuse of existing taxonomies FINREP PL (NBP) IFRS (IASCF) Polish GAAP (XBRL Poland) Extensions where necessary
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XBRL Poland Jurisdiction Development Past, Current and Future Activities Drivers of XBRL Implementation Agenda
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XBRL Poland Drivers of XBRL Implementation Standardisation of Reporting Cost and Time Aspects Legal Changes in the EU cross regional: IFRS, BASEL II, CRD local: IT governmental requirements XBRL Marketing Aspects IASB involvement, EU founding, SEC activities, CEBS recommendations, etc. Systems and Standards Out-Of-Date New Information Flows
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XBRL Poland Project Management Domain Working Group Chair Maciej Piechocki, IASCF XBRL Team E-Mail: mpiechocki@iasb.orgmpiechocki@iasb.org Secretary General Mateusz Hojda, XBRL Poland E-Mail: mateusz.hojda@xbrl-eu.orgmateusz.hojda@xbrl-eu.org
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Thursday, 8th of February 2007, Lisbon Q & A Maciej Piechocki IASCF XBRL Team DWG Chair XBRL Poland
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