International trends in XBRL usage - PwC · International trends in XBRL usage ... XWand Application Developer (API) for .NET and Java ... Building taxonomy extensions for reporting

International trends in XBRL usageFujitsu approach to Excel-XBRL-Excel conversions

Sławomir Skrzypek

EMEA Center of Excellence for Interstage XWand

Agenda

About Fujitsu

International trends in XBRL usage

XBRL Around the World

Key XBRL Projects and Drivers in UE

Fujitsu XBRL Products Overview

XWand Toolkit/ XWand Reporter – set of desktop tools

XWand Application Developer (API) for .NET and Java

XBRL Integration Components

XBRL Processing Engine

Web Portal

Summary

1 Copyright 2017 FUJITSU LIMITED

Fujitsu at a Glance

Headquarters: Tokyo, Japan

Established: June 1935

Consolidated revenue: US$47 billion

Employees: Over 156,000 worldwide

Sales and support operations in over 100 countries

Fujitsu Limited shares are listed on: the Tokyo Stock Exchange, as well as the Osaka, Nagoya and London exchanges

Leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services.

We use our experience and the power of ICT to shape the future of society with our customers.


Fujitsu’s Leadership Position


Leadership in XBRL Consortium

Large member – XBRL International Consortium

Europe, Spain, Finland, Poland, US, Australia, Korea and Japan

Chaired XBRL 2.1 Specification Working Group since 2003

At-Member of Best Practice Board

Participation in European Filing Rules WG and XBRL European Business Register (xEBR)

Leading XBRL Specification Efforts

Specification – XBRL 2.1/2.0

Best practices – FRTA, FRIS

Conformance Suite

Dimensions, LRR

Latest activities – Formula, Versioning, Rendering

XBRL International Sustaining Partner

Leading XBRL tools provider

200+ downloads / month

Extensive experience with designing and implementing XBRL based solutions (ECB, EIOPA, SBR

Australia, SBR Finland, SBR Netherlands, NCA’s, Tokyo Stock Exchange)

4

Fujitsu’s EMEA Center of Excelence for XWand

R&D

SoftwareProduct

Development

SalesSupportConsu-

lting

Copyright 2017 FUJITSU LIMITED

Consulting related to XBRL technology and implementation of

XBRL platforms,

Building taxonomy extensions for reporting frameworks

(e.g. IFRS, GAAP, CRDIV, Solvency II),

Workshops about XBRL standard, Data Point Methodology (DPM),

taxonomy development,

Architecture design for enterprise submission platforms,

Definition of functional and technical requirements for XBRL

platforms,

System integration services,

Development of “tailor made” XBRL solutions on top of XWand API,

XBRL processing optimization in production environment,

Hands-on trainings for market-recognized XBRL tools,

XBRL engine delivery and deployment,

Interstage XWand – product related trainings

First line support for Interstage XWand products

XBRL services delivered by us


Quality Review

Taxonomy

Development

Taxonomy

Extension

Development

Training and

Advisory

Custom

Development


International trends in XBRL usage

6

Who is using XBRL? (World view)

Notable projects: US SEC, UK HMRC, SGX, TSE, KLSE, SSE, KRX, DCCA, Australian SBR,Netherlands SBR


Who is using XBRL? (Europe view)Banking sector

8

Source: EBA – February 2017


The European Banking Authority (EBA) started to collect (at the beginingof 2014) XBRL reports created against COREP/FINREP taxonomies

Who is using XBRL? (Europe view)Insurance sector


From 1 January 2016, insurers across Europe have been subject to the same set of regulations defined by the European Insurance and Occupational Pensions Authority (EIOPA) - reporting in XBRL accordingto Solvency II taxonomy

All EU countries with greaterand lesser success except for:

Slovenia

Croatia

EEA countries that has not implemented XBRL yet:

Liechtenstein

Norway

Switzerland

Who use XBRL? (Europe view)Standard Business Reporting Programmes

10

We are very proud of being part of all SBR project developments known to date:

SBR NetherlandsLogius, Belastingdienst

SBR FinlandFinnish Tax Service

SBR SwedenSwedish Companies Registration Office


Who is using XBRL? (Europe view)Capital markets and sustainability reporting

currently only Spain and Germany implementedXBRL as required format

filers in Estonia and Italysubmit XBRL reports on voluntary basis

sustainability reporting in XBRL does not exist yet(…though GRI, CDP taxonomies have beendeveloped)


Who will use XBRL? (Europe view)Capital Markets – ESMA requirements

12

Source: The European Securities and Markets Authority (ESMA) - Timelines

Starting January 1, 2020, public companies that prepare consolidated IFRS financial statements will provide them in the structured format XBRL.


The biggest implementation of

XBRL Technology and Solution

Common Reporting Platforms based on our XBRL Technology

Disclosure Solutions based on our XBRL Technology

Tokyo Stock ExchangeTDnet

Japan Financial Service AgencyEDINET

U.S. Securities and Exchange CommissionEDGAR


Indonesia Stock Exchange

Interstage XWand - The Proven Competence


Adopted by 300 + customersin over 50 countries

Tax Offices

Company Registers

Bureau of Statistics

Financial

Supervisory

Authorities

Software

Vendors

Ministry National BanksFilers/SubmittersStock

Exchanges

SBR

Projects

14

http://www.danskebank.com/

http://www.danskebank.com/

Selected reference XBRL projects

• European Central Bank (ECB) - COREP/FINREP and Solvency II

projects

• European Insurance and Occupational Pensions Authority

(EIOPA) – Solvency II project

• European Banking Authority (EBA) - COREP/FINREP project

• Central Bank of Russia - equivalent of Solvency II project

• Deutsche Bundesbank - COREP/FINREP project

• FSA Sweden - Solvency II and COREP/FINREP projects

• FSA Finland - Solvency II and COREP/FINREP projects

• Valtori for Finnish Tax Office – SBR project

• CSSF Luxembourg - COREP/FINREP project

• Autoridade de Supervisão de Seguros e Fundos de Pensões

(ASF) Portugal - Solvency II project

• Banque de France - Solvency II and COREP/FINREP projects

• Bank of Greece - Solvency II and COREP/FINREP projects

• Central Bank of Ireland - Solvency II and COREP/FINREP projects

• De Nederlandsche Bank - Solvency II and COREP/FINREP projects

• Bank of Finland - Solvency II and COREP/FINREP projects

• If Skadeförsäkring AB - Solvency II project

• National Bank of Belgium - Solvency II and COREP/FINREP

projects

• FME Iceland - Solvency II and COREP/FINREP projects

• Bank of Portugal - COREP/FINREP project

• Bank of Spain - COREP/FINREP project

• FSA Norway - COREP/FINREP project

• National Bank of Denmark - COREP/FINREP

project

• FSA Denmark - COREP/FINREP project

• Bank of Slovenia - COREP/FINREP project

• Central Bank of Cyprus - COREP/FINREP project

• National Bank of Moldova - COREP/FINREP

project

• National Bank of Hungary - COREP/FINREP

project

• Bulgarian National Bank - COREP/FINREP project

• Czech National Bank - COREP/FINREP project

• FSA Estonia - COREP/FINREP project

• Bank of Israel – project similar to COREP/FINREP

• Israel Securities Authority – IFRS reporting project

• Finanfarma Portugal - COREP/FINREP project

• Financial And Capital Market Commission Latvia

- Solvency II and COREP/FINREP projects

• National Bank of Poland - COREP/FINREP project

• Polish FSA - COREP/FINREP project

• Estonian Central Bank - Solvency II and

COREP/FINREP projects

Copyright 2017 FUJITSU LIMITED15


Fujitsu XBRL Products Overview

16

Fujitsu XBRL Products - General FeaturesOverview

Taxonomy agnostic

100% compatibility with XBRL specification

High performance validation engine

Flexibility regarding deployment environments

Easy and rapid integration with 3rd party solutions

No proprietary formats, databases etc. used

Low Cost of Ownership


Fujitsu Excel-XBRL – related productsOverview

(1) XWand Reporter – desktop application(part of Toolkit)

(2) CMDValidator & CMDExcelMapper–command-line tools

(3) ValidatorTL & ExcelMapperTL –API, libraries ready-to-use for implementingyour own XBRL-Excel rendering, validationscenarios

(4) WebPortal –integrated API components


XWand

APIRuntime

Execution Env.

Application

Developer

WebPortal

Command LineAPI

XWand

Toolkit

Converters Renderer

Validator

DBXBRL

Taxonomy

Editor

Formula

Editor

Instance

Creator

Sheet Mapping Designer

Instance

Dashboard

Word

Tagger

Typical XBRL Processing ScenariosThese business processes can be assembled using ready-to-use Custom components developed on top of XWand API


Reg

ula

tor/

Su

perv

iso

rF

ilers

distributes

mapping

templ. spreadsheets

templ. instance

Portal Gate

error

messages

2

4

4

generates

3

6

5

5

BI software

DWHConsulting/

Training services

Integration and Advisory services

Custom Development services

generates

based on1

Data Model

Taxonomy

fills out

generates

converts to XBRL

Validates

feedback

ETL

Excels for ad-hoc

analysis

renders4

shreds /

converts

19

[1] Creating XBRL filingSemiautomatic process (with XWand Toolkit usage)

File

rs/S

ub

mitte

rs

mapping

templ. spreadsheets

templ. instance

generate mapping and

excel template files(XWand Reporter)

based on

Data Model

fill out data

spreadsheet(Excel)

convert Excel-to-XBRL(XWand Reporter)

validate(XWand Reporter)

4 56

8

correct | edit(Excel / XWand Reporter)

submit

error

messages

NCAconfigure (Interstage XWand Toolkit)load Taxonomy

(XWand Taxonomy Editor)

21

3

error

messages

review(Excel)

7


[1] XWand Reporter (part of Xwand Toolkit)

Semiautomatic proces of XBRL creation

Creation and modification of an instance in GUI, new! EFR

compatibility

New! Excel templates and mapping files

New! Import from Excel

Validation: XBRL, formula, new! FRIS

New! Plugin: Filing rules validation

New! Plugin: export to Excel - just data or data with validation

results


20161109_0328_50.avi

20161109_0328_50.avi

[1] XWand Reporter Overview - ver. 13.4


Excel with data and validation results exported

incorrect cells are highlighted in

Excel

additional tabs with validation

summary are generated in Excel

reporting templates

summary tabs contain clickable

links to facilitate tracking of errors by

business users

Excel-to-XBRL conversion

output in HTML can be further used

in implementation of more integrated

web service environment

[2] Creating XBRL filingAutomation of the process (with XBRL Components&XWand Processing Engine usage)

File

rs/S

ub

mitte

rs

mapping

templ. spreadsheets

templ. instance

generate mapping and

excel template files(XWand Reporter)

based on

Data Model

fill out data

spreadsheet(Excel)

convert Excel-to-XBRL(CMDExcelMapper)

validate(ValitatorTL)

4 56

8

correct | edit(Excel)

submit

error

messages

NCAconfigure (Interstage XWand API)load/call Taxonomy

(Interstage XWand API/XWand Processing

Engine)

21

3

error

messages

review(Excel)

7



[2] XBRL Integration Components

Automation of the process of XBRL creation

24

100% valid

report in XBRL

FilingRules

Business Rules

XBRL Syntax

ValidatorTL

Filing Rules (FR)

Processor

CMD

ExcelMapper

Validator

Converter

XBRL-DWH-JapStagingDB

Table2XBRL

XBRL2TLDB

XBRL

DWH2XBRL

WebService

XBRL2DB

20161109_0328_50.avi

20161109_0328_50.avi

3600 seamless Excel-XBRL conversion cycle


Generate Convert

Validate

Edit

Render

XLSXXLSX

XLSX

CMDExcelMapper

Component

ValidatorTL

and/or

Filing Rules Processor

Component/s

RendererTL

Component

MS Excel

XWand

Toolkit

automaticmapping


[3] WebPortal

26

20161109_0328_50.avi

20161109_0328_50.avi

[3] Reporting entities and users management

editing, deleting

access rights check based on

user to reporting entity assignment


adding, editing, deleting, disabling

password setting

assigning to reporting entities

assigning to roles:

Administrator

Supervisor

Analyst

Filer

[3] Taxonomy packages management

registering by uploading ZIP file

entry points specifying (support for Taxonomy Packages 1.0)

URI mapping defining (support for XML Catalogs 1.1)


[3] Submission requests registration

ability to register submission requests for selected reporting entity, period and taxonomy entry point


[3] XBRL instances

registering by:

uploading XBRL file

uploading MS Excel spreadsheet file to be converted to XBRL

creating new and editing existing instances stored in the solution

instances history of submission request


[3] Instance Viewer / Editor


Instance creation and modification

Rendering Formula validation results directly on table layout

Export to XBRL, Excel, CSV/JSON

31

[3] Instance comparer


Comparing of selected instances and visualization of the differences by

coloring and comments.

Markup (rectangle) showing that there is a difference

between what is in the visualized instance and another

instance being compared

Cells with comments

differ between the

instances. The current

instance has value 4.00

in the selected cell

whereas there is value

25 in the other instance.

32

XWand Summary


Why Fujitsu XBRL Solutions?


100% compliance to XBRL

specification

Our products, built with over 14

years of experience in regulatory

reporting

EIOPA and ECB is using our

products (XBRL Processing

engine, custom components

Over 70% of EU regulators and

many Filers are using Fujitsu

Interstage XWand

Competitive price

Low cost of ownership of the

software – free of charge upgrade

according to valid maintenance

service

Taxonomy-agnosticism

34

Key benefits of Interstage XWand

implementation

Shortened time to market of XBRL projects

Lowered cost of XBRL document and application development

Built-in enhanced validation to reduce risk of errors

Continued support for changes in the XBRL specification

Shorter learning curve with automated and easy to use features

Flexibility to use with multiple data applications such as Excel and application layer technologies like Java and .NET


Market tested solution – implemented in over 50

countries around the world

Extensive customer base – this means we can constantly

develop and improve based on feedback from a wide

range of users, who can also learn from each other

Key Differentiators



Q&A

37

For more information please contact

Sławomir Skrzypek

Business Development Director - BI

Parkowa 11 Street

30-538 Krakow, Poland

Tel.: (+48 12) 429 43 45

Mobile: (+48) 606 298 596

E-Mail: [email protected]



Documents

International trends in XBRL usage - PwC · International trends in XBRL usage ... XWand Application Developer (API) for .NET and Java ... Building taxonomy extensions for reporting