XBRL in Europe

XBRL in EuropeXBRL in Europe

Projects, users and…Projects, users and…

Olivier Servais, Olivier Servais,

XBRL in Europe – Permanent SecretaryXBRL in Europe – Permanent Secretary

XBRL Int’l Steering Committee – MemberXBRL Int’l Steering Committee – Member

Tuesday, 26 April 2005

Business casesBusiness cases

11th XBRL International Conference / BostonTuesday, 26 April 2005

AgendaAgenda

What is XBRL in EuropeWhat is XBRL in Europe

Overview of XBRL projects in EuropeOverview of XBRL projects in Europe

Next stepsNext steps

X what ?In Europe ?

What is XBRL in EuropeWhat is XBRL in Europe

Overview of XBRL projects in EuropeOverview of XBRL projects in Europe

Next stepsNext steps

11th XBRL International Conference / BostonTuesday, 26 April 2005

Europe isThe first economic power

Expanding from 15 to 25 countries and from 300M to 500M inhabitants

20 official languages

7,000+ listed companies that reporting with 2+ GAAP (Local GAAP, IFRS, US

GAAP)

26 stock exchanges

The interest of the EC for XBRL (reporting, IFRS, new LL3 committees …)

XBRL is at border-line between technology and finance

Stage in the XBRL life cycle, to increase awareness and use

Need to have dedicated resources on a neutral and permanent basis

The ability for some to cooperate on a unique European project

XBRL in EuropeXBRL in EuropeThe BackgroundThe Background

11th XBRL International Conference / BostonTuesday, 26 April 2005

Theme : “Speeding up the development and adoption of XBRL in Europe”

Supported by the 6th Framework Program : IST-2002-2.3.1.9 - Networked businesses and governments

Focus: Increase awareness Founding jurisdictions Internet Permanent secretariat

Key features Neutral & IndependentTwo-way dialogueICT dimensionInfrastructure Outcome

XBRL in EuropeXBRL in EuropeThe ProjectThe Project

11th XBRL International Conference / BostonTuesday, 26 April 2005

XiE is :1.5 year effort to get the grant

A project granted by the EC … for Europe

An affiliate to XBRL Int’l

A facilitator for creating and developing

jurisdictions, increase awareness and

speed up use

A real neutral and independent player

and is working for, and with, any player

Two-year duration

Just a start

XiE is NOT :Piece of cake Generating any profit

A legal entity nor a part of the EU

Commission

An XBRL Int’l member or new

jurisdiction

Able to give money. The money has

to be expended by its members on a

“pay-back” mechanism

Chasing for any other grant nor

competing with any other

organisation

An end

“XBRL in Europe”The Rules

EstablishedEstablishedIrelandIrelandGermanyGermanySpainSpainThe NetherlandsThe NetherlandsUnited KingdomUnited Kingdom

ProvisionalProvisionalSwedenSwedenBelgiumBelgiumDenmarkDenmark

In constructionIn constructionCzech RepublicCzech RepublicFinland Finland FranceFranceHungaryHungaryItalyItalyPoland Poland PortugalPortugal

In projectIn projectSlovenia, Austria, Slovenia, Austria, Greece, Estonia, Greece, Estonia, Norway, Luxemburg, Norway, Luxemburg, Malta + TurkeyMalta + Turkey

JurisDevJurisDev

AvailableAvailableGermanyGermanySpainSpainUnited KingdomUnited KingdomBelgium Belgium DenmarkDenmark

In constructionIn constructionFranceFranceIrelandIrelandSwedenSwedenThe NetherlandsThe NetherlandsItalyItaly

Local GAAP Local GAAP taxonomytaxonomy

11th XBRL International Conference / BostonTuesday, 26 April 2005

AgendaAgenda

What is XBRL in EuropeWhat is XBRL in Europe

Overview of XBRL projects in EuropeOverview of XBRL projects in Europe

Next stepsNext steps

What is XBRL in EuropeWhat is XBRL in Europe

Overview of XBRL projects in EuropeOverview of XBRL projects in Europe

Next stepsNext steps

National UK Inland Revenue

UK Financial Services Authority

UK Companies House

Datev/Bundesbank

Danish Commerce & Companies (DCCA)

Bank of Spain – Banking Supervisor

Agency for registrations of companies & balance sheet

Spanish Stock Exchange

Bank of Belgium – Balance sheet office

Belgian Banking supervisors

Dutch Water Boards

Dutch Statistics agency (CBS)

Dutch government

Italian Stock Exchange (Borsa Italiana)

MPS Net

Pan-european XBRL in Europe – FP6

ICISA (CRAS group)

Eurostat (feasability study)

IASB

CEBS – COREP (Basel II) & FINREP (IFRS)

XBRL projects in EuropeXBRL projects in Europe

30+ projects !

30+ projects !

Projects and future applications inProjects and future applications inOrganisation Application Project Target Target

date• Balance sheet deposit

• Collection of raw data

• Statistical process

• Interface to other reg’s

• NBB taxonomy devpt

• Review the supply chain

• Review the process

• Reporting tool

270,000/yr 1 Apr, 2007

Prudential & Financial control for Banks, insurances, investment firms, pension funds and listed companies

• Prudential (IFRS) Banking reporting (Schema A)

• Prudential Banking reporting (Basel II)

• Review the supply chain

• Review the process

Every consolidated bank

Every bank

1 Jan, 2006

1 Jan, 2007

Coordinating actions for banks

• IFRS Bank taxonomy devpt

• Review the supply chain

• Review the process

Every bank 1 Jan, 2006

• Balance sheet deposit

• Collection of raw data

• Statistical process

• Awareness & Evaluation

• Review of process

210,000/year TBD

• Collection of raw data • Awareness

• Evaluation

210,000/year TBD

Description of Use Participants Status of Use Stage of Use Type of Use Use of XBRL SpecOrganizations

affected

DATEV, the leading German software and service provider for tax advisers and their customers, is capable to generate XBRL reports out of the ERP system for over 2 million small/medium sized German companies. Datev e.G., Nuernberg Operating/Ongoing Implementation

Internal & External

Instance document creation 2 over 2 million

PPA is running a data base that currently contains about 30,000 annual reports; these data can be delivered to counterparts as XBRL instance documents

PPA GmbH, Darmstadt Operating/Ongoing Implementation

Internal & External

Instance document creation, taxonomy 2 about 7,000

Deutsche Bundesbank, the German Central Bank, is running a data pool of annual financial statements as a basis for operational comparison statistics, aggregate statistics and macroeconomic analyses; an XBRL import interface is implemented.

Deutsche Bundesbank, Frankfurt Completed Pilot External

Instance document consumption 2

10,000 in the starting phase

Deutsche Börse AG, Frankfurt, is looking for ways to enhance and streamline the reporting of SE listed companies through XBRL; that includes implementing import and export features as well as specifically designed taxonomies for the reporting content (as subsets of IFRS and US-GAAP)

Deutsche Börse AG, Frankfurt In Development Pilot

Internal & External

Instance document consumption & creation, taxonomy 2,1 10 (at the pilot stage)

Ernst & Young and Software AG developed an online Corporate Rating Portal (www.eyrating.de) that consumes XBRL instance documents based on the taxonomy GermanAP. Soon the Portal will support also Spec. 2.1 and later the IFRS/IAS Taxonomy.

Ernst & Young, Stuttgart; Software AG, Darmstadt Completed Implementation External

Instance document consumption 2 many

Fraunhofer IPSI developed a collection of tools for processing business information; this includes import/export XBRL, mapping between taxonomies, a reporting language and storage in a repository, etc

Fraunhofer-Institut für Integrierte Publikations- und Informationssysteme, Darmstadt Operating/Ongoing Implementation

Internal & External

Instance document consumption & creation 2 many

Fraport (the company running the Frankfurt airport) disclosed their 3rd quarter figures 2003 as XBRL report assised by various Participanst of the German Jurisdiction various Completed Pilot External

Instance document creation, taxonomy extension 2

1 preparer, 6 XBRL Participants assisting, multiple consumers

S&N AG developed a suite of tools for automatic conversion of XBRL data into the formats used by analysis systems of banks. E.g. it is possible to convert XBRL data from DATEV to the EBIL Format used in Sparkassen in Germany. S&N AG Paderborn Completed Implementation

Internal & External

Instance document consumption 2 over 2 million

S&N AG developed a tool for automatic creation of XBRL instance documents out of the R/3 ERP System of SAP. S&N AG Paderborn Completed Implementation

Internal & External

Instance document creation 2 many

BARS is Deutsche Bank's spreading tool for world wide capture and sophisticated analysis of customers' financial statements. The application offers to Deutsche Bank's credit officers access to 200.000 customers and 1.6 million financial statements stored in a central database. In order to facilitate data capture and to further streamline the credit process the application will be equipped with an XBRL-import interface.

Deutsche Bank AG, Frankfurt a.M. In Development Implementation

Internal & External

Instance document consumption 2.0 & 2.1

up to 200.000 statements per year

11th XBRL International Conference / BostonTuesday, 26 April 2005

UK : the Inland Revenue projectUK : the Inland Revenue project

Announcement as part of UK Budget on March 16.Announcement as part of UK Budget on March 16.

Inland Revenue strategy is to reduce filing costs by moving businesses and Inland Revenue strategy is to reduce filing costs by moving businesses and

their advisers online.their advisers online.

Corporation Tax filings using XBRL will be in place by March 2006.Corporation Tax filings using XBRL will be in place by March 2006.

Filings will consist of an XML return and XBRL calculations and financials.Filings will consist of an XML return and XBRL calculations and financials.

IR is also looking at the use of intelligent-form technologies which are IR is also looking at the use of intelligent-form technologies which are

expected to tie closely into their use of XBRL.expected to tie closely into their use of XBRL.

This strategy has the full backing of HM Treasury and the Chancellor of the This strategy has the full backing of HM Treasury and the Chancellor of the

Exchequer.Exchequer.

11th XBRL International Conference / BostonTuesday, 26 April 2005

Contribution to IFRS FS taxonomy extensionsContribution to IFRS FS taxonomy extensions

Financial statements to Bank of SpainFinancial statements to Bank of Spain

Pilot project at the Pilot project at the Agency for registrations of companies & balance sheetAgency for registrations of companies & balance sheet

Spanish Stock ExchangeSpanish Stock Exchange

Recent new members:Recent new members:

Ministry of FinanceMinistry of Finance

Ministry of IndustryMinistry of Industry

Tax AgencyTax Agency

Projects and future applications Projects and future applications inin

11th XBRL International Conference / BostonTuesday, 26 April 2005

Building an XBRL Solvency Ratio Building an XBRL Solvency Ratio taxonomytaxonomy

Sponsored by the Sponsored by the Committee of European Banking SupervisorsCommittee of European Banking Supervisors

COREP: COREP: defining a defining a COCOmmon mmon REPREPorting framework around the solvency ratio orting framework around the solvency ratio

(Based on (Based on Basel II, Pillar IBasel II, Pillar I)) for credit institutions and investment firms under for credit institutions and investment firms under

the European Union Capital Requirements.the European Union Capital Requirements.

Key featuresKey featuresRequirements for Flexibility, Consistency & StandardisationRequirements for Flexibility, Consistency & StandardisationStarted in February 05, to be ended in June ’05Started in February 05, to be ended in June ’0550 people representing 22 countries involved50 people representing 22 countries involved

DeliverablesDeliverablesInitial COREP XBRL taxonomyInitial COREP XBRL taxonomySet of non-confidential test casesSet of non-confidential test casesBasic collaborative environmentBasic collaborative environment

Further details on www.corep.infoFurther details on www.corep.info

Basel II

Directives 2000/12 & 93/6

Country 1

FSA 1

Report 2Report 1

------------------------------------

Country 3Country 2 Country 25

FSA 2 FSA 3 FSA 25

Report 25

----------------------------------------------------------------------------------------------------------------------------------------------------------------

Report 25

----------------------------------------------------------------------------------------------------------------------------------------------------------------

Report 3

----------------------------------------------------------------------------------------------------------------------------------------------------------------

National Regulation

Transposition intonational Legislation

European Law9X,XX% Basel II compatible

National Implementation

XBRL challenge!

Bank

Risk Management

OperationsCounterparties

Collateral…

Risk Management

OperationsCounterparties

Collateral…

Aggregator

Report

------------------------------

Supervisor

IS Supervisory

ReportsOther data

……

IS Supervisory

ReportsOther data

……

Reception

Presentation, Analysis…Bank operations, controls….

XBRL

instance

Self-assessment MPSnet: il workflow

Session IDWINS

Questionario on line

PMI(ANCE)

Session ID

Web form editabile da Banca MPS

Storing delle statistiche

Generazione automatica di indici sui principali dati economici e finanziari

Valutazione dell’azienda sulla base del posizionamento rispetto al sistema di riferimento

Preview – Generazione del documento di output (CPC)

Web form(questionario) editabile da Banca MPS

Statistiche

Integrazione con dati dai Bilanci depositati (Infocamere)

APCC (B MPS)

Integrazione con

dati fiscali (MEF)*S

ito w

eb A

NC

E

* Attivazione prevista in una fase succesiva

Generazione di grafici sulla base dei dati fiscali (confronto tra dati azienda e dati di settore)*

WINS

PMI(ANCE)

Analisi del mercato (ANCE)*

PDF

Infocamere

PDF to XBRL

Tassonomia

XBRL

XBRL

ANCE

Company Profile Card

Session IDWINS

Questionario on line

PMI(ANCE)

Session ID

Web form editabile da Banca MPS

Storing delle statistiche

Generazione automatica di indici sui principali dati economici e finanziari

Valutazione dell’azienda sulla base del posizionamento rispetto al sistema di riferimento

Preview – Generazione del documento di output (CPC)

Web form(questionario) editabile da Banca MPS

Statistiche

Integrazione con dati dai Bilanci depositati (Infocamere)

APCC (B MPS)

Integrazione con

dati fiscali (MEF)*S

ito w

eb A

NC

E

* Attivazione prevista in una fase succesiva

Generazione di grafici sulla base dei dati fiscali (confronto tra dati azienda e dati di settore)*

WINS

PMI(ANCE)

Analisi del mercato (ANCE)*

PDF

Infocamere

PDF to XBRL

Tassonomia

XBRL

XBRL

ANCE

Company Profile Card

Borsa Italiana’s vision concerning XBRL

NIS

Excel(pre-

defined)

Adobe IntelligentForm

(pre-defined)

XBRL validator

DBMS XML XBRL

XBRL instance builder

Listedcomps

BorsaItaliana

Errors msgs

Borsa Italiana public website

The instance document could also be sent to:• Listed company’s website• Info vendors• Media• Regulators

Borsa Italiana view of XBRL

11th XBRL International Conference / BostonTuesday, 26 April 2005

Credit Risk : the FLIPA projectCredit Risk : the FLIPA project

Credit Insurers and Business information suppliersCredit Insurers and Business information suppliers team up team up

to develop a joint framework over XBRL technologyto develop a joint framework over XBRL technology

SponsorsSponsors::

ICISA: International Credit Insurance and Surety AssociationICISA: International Credit Insurance and Surety Association

FEBIS: Federation of Business Information ServicesFEBIS: Federation of Business Information Services

DeliverableDeliverable

Generic taxonomyGeneric taxonomy

Multi-languageMulti-language

IFRS extensionIFRS extension

April 2005 – XBRL International Conference –

Boston USA Confidential

e-Report on XBRL

Sender,Product,

...

…

Message informationnon-XBRL

Key financial figures

Business rating

Credit recommendatio

n

Negative events

Envelope

header

Related entitiesEntity

Envelope

trailer

Message informationnon-XBRL

...

XBRL-CRAS FLIPA taxonomy extract

Deliverable: The FLIPA Taxonomy

April 2005 – XBRL International Conference –

Boston USA Confidential

CRAS FLIPA Taxonomy: Multi language support

Creation by CRAS team

Translation by Japanese Team(TSR, TDB+…)

Translation by Lince - Italy

Translation by Atradius

Translation by Coface Intercredit

11th XBRL International Conference / BostonTuesday, 26 April 2005

€350+ Millio

ns

11th XBRL International Conference / BostonTuesday, 26 April 2005

AgendaAgenda

What is XBRL in EuropeWhat is XBRL in Europe

Overview of XBRL projects in EuropeOverview of XBRL projects in Europe

Next stepsNext steps

What is XBRL in EuropeWhat is XBRL in Europe

Overview of XBRL projects in EuropeOverview of XBRL projects in Europe

Next stepsNext steps

XBRL in Europe

Some learningsSome learnings

No reason anymore for not adopting XBRLNo reason anymore for not adopting XBRL Specs are stable for 3 yearsSpecs are stable for 3 years Solutions are availableSolutions are available Political issues are … no longer issuesPolitical issues are … no longer issues

Financial services are one of the most pro-active, but Financial services are one of the most pro-active, but

securities and companies are on track toosecurities and companies are on track too

No need for imposing XBRL…XBRL is just an opportunityNo need for imposing XBRL…XBRL is just an opportunity

From “why and who” to “how to, how much, how long” From “why and who” to “how to, how much, how long”

(the EGG & GCD experiences)(the EGG & GCD experiences)

XiE was expected, it is now a reality, and it’s just the XiE was expected, it is now a reality, and it’s just the

beginning of a longer storybeginning of a longer story

11th XBRL International Conference / BostonTuesday, 26 April 2005

11stst EuropeEuropeanan XBRL Conference XBRL Conference for Financial Servicesfor Financial Services

Theme : Theme : How XBRL will improve Financial Services reporting by 2006How XBRL will improve Financial Services reporting by 2006

Hosts : Hosts : XBRL in Europe, XBRL in Europe, with the Committee of European Banking Supervisors with the Committee of European Banking Supervisors

(CEBS) and the European Banking Federation (FBE)(CEBS) and the European Banking Federation (FBE)

Keynote speakers: Keynote speakers: Jaime Caruana (Chairman of Basel Committee), José Maria Jaime Caruana (Chairman of Basel Committee), José Maria

Roldan (Chairman of Committee of European Banking Supervisors), Peter Praet Roldan (Chairman of Committee of European Banking Supervisors), Peter Praet

(Member of the Board of CBFA), Tom Jones (Vice-Chairman of IASB) and (Member of the Board of CBFA), Tom Jones (Vice-Chairman of IASB) and

representatives of banksrepresentatives of banks

When: When: 29 June 2005 10.00 – 17.0029 June 2005 10.00 – 17.00

Where:Where: Chartered Accountants Hall, London Chartered Accountants Hall, London

Size: Size: Approximately 250 attendeesApproximately 250 attendees

Audience profile: Audience profile: Bankers and supervisorsBankers and supervisorsBook your diary !

11th XBRL International Conference / BostonTuesday, 26 April 2005

Thank you, Merci, Dank Thank you, Merci, Dank u, Grazie, Obrigado, u, Grazie, Obrigado, Danke, Tak, Tack, Takk, Danke, Tak, Tack, Takk, Gracias, Gracias, ευχαριστώ, ευχαριστώ, Köszönöm, Paldies, Köszönöm, Paldies, Aciu, …Aciu, … olivier.servais@xbrl-eu.orgolivier.servais@xbrl-eu.org

+32 2 702 64 82+32 2 702 64 82 +32 2 702 64 75+32 2 702 64 75+32 497 456 456+32 497 456 456

www.XBRL-eu.orgwww.XBRL-eu.orgwww.XBRL-eu.org/londonwww.XBRL-eu.org/london