1. SBR Overview Paul Madden Program Director Standard Business Reporting July 2010

2. May 20102 SBR Vision  Reduction in the reporting burden for business  A single language for business to report to government  Reporting to government becomes a by-product of natural business systems/process - Government reports can be pre-filled from the data in accounting/payroll/business management software - Business’s own systems become their portal for reporting to government - Businesses will have one credential to report to all agencies  Reporting to Capital Markets and other businesses - Better investment decisions - Reduced cost and increased certainty - Access to more accurate and timely financial information

3. May 20103 Who is implementing SBR?  Government agencies include: -Treasury (lead) -Australian Prudential Regulation Authority -Australian Securities & Investments Commission -Australian Taxation Office -State and territory government revenue offices -Australian Bureau of Statistics (Taxonomy only)  Software developers and suppliers  Business & intermediaries

4. May 20104 When is SBR being implemented?  Government side has been implemented!  AUSkey implemented from 17 May 2010  All agencies able to receive reports from SBR from 1 July  Progressively supported by software systems for use by accountants and business from July 2010  Large Business Implementation methodology being pilotted

5. May 20105 Key components  Taxonomy  Core services  AUSkey

6. May 20106 Taxonomy  Collective set of the reporting definitions across the agencies involved  Expressed using XBRL  allows consistent mapping from elements of data in business software  Map once consume many times  Compliant with IFRS, AASB and regulator reporting requirements  Used by SBR as the standard for data being exchanged between software and the agencies

7. May 20107 SBR Reporting Requirements  Congruence with standards – IFRS, AASB, regulation  Voluntary versus mandate  International trends  Market comparison – decisions  Business benefits and take-up/adoption

8. May 20108 SBR Contacts   SBR@treasury.gov.au SBR@treasury.gov.au  02 6263 3900 www.sbr.gov.au The Treasury 39 Brisbane Ave Barton, Canberra ACT 2612