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					XBRL Europe–
Thursday 19 November 2009
XBRL Europe presentation to 11th CEBS
XBRL Workshop


“The Progress of XBRL in Europe”


Gilles Maguet – Secretary General
 WHERE XBRL IS USED ? IN WHICH SECTORS ?
 In all sectors where regulatory reporting aspect is important
      Banking Sector
      Business Register Sector (registrars)
      Revenue & Tax Filing
      National Statistics
      Securities Regulator
      Other Initiatives (Stock exchanges, Banking Water management
       Board, Municipality reporting, etc.)
 Internally in companies to streamline the reporting process
 In some other sectors where exchange of information makes
  important savings
      Banking industry e.g. in receiving accounts in XBRL from clients
      In financial analysis industry
      In the exchange of Financial information across countries
                  XBRL                                                                      Business Register Sector                                                                                                                                                                                Other Initiatives (Stock
     Country                                       Banking sector                                                                                 Revenue&Tax Filing                                    National Statistics                            Securities Regulator
               Jurisdiction                                                                       (registrars)                                                                                                                                                                                       exchanges, Private)
                                     COREPo                                              Filing                                           Filing                                                                                               Filing                                         Filing
                         XBRL Europe         Fili Proje                                         Fili Proj                                        Fili Proje                               Filing in Fili Proje                                        Fili Proj                                      Filin Proj
               Jur Cat               rFINREP                        Comments               in                         Comments              in                        Comments                                             Comments              in                       Comments              in                          Comments
                           Member            ng ct                                              ng ect                                           ng ct                                     XBRL ng ct                                                 ng ect                                          g ect
                                     in XBRL                                             XBRL                                             XBRL                                                                                                 XBRL                                           XBRL


                                                                                                            Local GAAP (300.000
Belgium          E                           M    E                                          M     E
                                                                                                            accounts/year)
                                                                                                                                                M      I          Corporate tax                         I      Business structure survey

                                                                                                                                                                Initiative with annual
Denmark          E                                                                             V    E     Local GAAP                                  I
                                                                                                                                                                    accounts filing
                                                                                                                                                                                                   V     E


                                                          plus other Banking Filing in                                                                                                                                                                                Taxo for CEO Sal
France           E                           M    E
                                                          XBRL SURFI Project.
                                                                                                V    I     Local GAAP                                                                                                                                      I
                                                                                                                                                                                                                                                                         monitoring
                                                                                                            Local GAAP&IFRS ; V but
                                                                                                            XBRL preferred                                                                                          Deutch Bundesbank
Germany          E                           M    E                                           V    E
                                                                                                            (400,000/year) ; Efiling is
                                                                                                                                                M      I        Under discussion                  M     I
                                                                                                                                                                                                                    German Central Bank
                                                                                                            mandatory
Greece          No                            V    I
                                                                                                                                                                                                                                                                                                                     Govt Dept Enterprise
                                                                                                            Plans for future adoption                         Plans for future adoption
Ireland          E                           V    I                                                 I
                                                                                                            (timeline 2009-2011)                                 (date not defined)
                                                                                                                                                                                                          I                                                                                                 I        sponsored joint filing
                                                                                                                                                                                                                                                                                                                           program
                                                                                                            Local GAAP (1.200.000                                                                                   Initial projects. Istat                                                                        Initial project on invoicing
Italy            E                           V    I                                          M     I
                                                                                                            accounts/year)
                                                                                                                                                                                                         I
                                                                                                                                                                                                                   member of XBRL Italy
                                                                                                                                                                                                                                                      M    I                                              I
                                                                                                                                                                                                                                                                                                                         in private sector

Lithuania                                     V    I     To be checked
                                                                                                            Project : Annual accounts                                                                            Project : Annual accounts
Luxembourg       E                           M    E                                           V    I     electronic data collection”                                                            V     I      electronic data collection”                                                               I      Stock Exchange project
                                                                                                            STATEC                                                                                               STATEC
                                                                                                            Through World bank
Macedonia       No                                                                              V    I
                                                                                                            initiative - to be checked
                                                          SBR progr. Credit info
                                                          filings from bus. to banks;                                                                                                                                                                                                                              EMU reporting by Water
Netherlands      E                           V    E     DutchNationalBank                     V    I     Through SBR programme                V    E      Through SBR programme                V     E      Through SBR programme                                                               V     E        Boards to National
                                                          supports vol.                                                                                                                                                                                                                                                  statistics
                                                          FINREP/COREP filings.

Poland           P                            M    E                                                                                                                                                                                                 M    I                                        V     I      Warsaw Stock Exchange
                                                                                                            Through World bank
Serbia          No                                                                              V    I
                                                                                                            initiative - to be checked
                                                                                                                                                                                                                                                                                                                  Central Balance Sheet
                                                                                                                                                                                                                                                                                                     V           Office
                                                                                                            Local GAAP ; 600.000
Spain            E                           M    E                                          M     E
                                                                                                            XBRL reports
                                                                                                                                                                                                                                                     M     E            Since 2005                  V           Municipalities
                                                                                                                                                                                                                                                                                                     V           Corporate Social
                                                                                                                                                                                                                                                                                                                  Responsibility
Sweden           E                                                                              V    E     Local GAAP
Switzerland      P
UK               E                                                                              V    I     Local GAAP and IFRS                 M      I         2011-New Taxo

CEBS                                                      Recommandation on XBRL

CESR                                                                                                                                                                                                                                                              Call for Evidence on XBRL

EUROSTAT                                                                                                                                                                                                           Some XBRL promoting

Legend :       XBRL Jurisdiction E: Established                                                 Project E: Established - I: In progress
                   P: Provisionnal                                                              Filing M: Mandatory V: Voluntary                                XBRL Projects in Europe
                                                                                                                                                                by sector – October 2009
 XBRL Projects in Europe
 48 XBRL country level Projects in 17 European Countries
  (14 in the EU) at various status (established or in
  progress)
      Banking Sector (Corep & Finrep and others): 11 projects, 6
       established, 5 in progress and 6 are for mandatory filings.
      Business register sector: 13 projects, 5 established, 8 in
       progress and 4 are for mandatory filings. Mainly in local
       GAAPs and 2 for GAAP and IFRS.
      Tax Returns: 5 projects, 3 mandatory and all in progress
      Statistics: 6 projects
      Security regulator: 1 established project for Mandatory filing
       in Spain (following IFRS), 2 in progress
      Other sectors: 9 projects
    Why a XBRL Europe Organisation?
    Without being aware, Europe is a XBRL continent and huge amount of
     XBRL information is or will be circulating in Europe.
    But NO particular project exists for trans-national information, except
     for COREP/FINREP and with the IFRS taxonomy (just for listed
     companies).
    Such Projects WILL reduce the over costs of crossing boundaries
     (recalculations, translations, etc).
    XBRL technology allows exchanging information. Surely better with a
     unique Gaap in Europe. But to start at XBRL Europe we developed pan
     European harmonisation initiatives and for instance in the EU Business
     register WG -> Development of a common taxonomy between some
     EU Countries in order to:
       to retrieve common datas from national taxonomies
       present minimum common info across countries/languages
The Not for Profit Association XBRL Europe Objectives

 To foster the emergence of common XBRL
  projects between members in Europe and
  between European Countries to harmonize
  practices or to create common practices
 To develop liaison and dialogue with European
  level organisations and European Authorities
  (European Commission, European Parliament,
  European Central Bank, etc) to increase XBRL
  awareness
 To support the creation of new European XBRL
  jurisdictions within European Countries
XBRL jurisdictions in EU & XBRL Europe Members
 In Europe, It exists 13 XBRL jurisdictions
 XBRL EUROPE counts 13 members:
      XBRL Belgium, Denmark, Germany, France, Ireland, Italy,
       Luxembourg, Netherlands, Spain and XBRL International
       and direct members The Global Trust Council, the
       European Federation of Financial Analyst Societies
       (EFFAS), and Deloitte Consulting BV
      XBRL UK, Sweden, Switzerland and Poland are still outside
       XBRL Europe
 European Commission (DG Internal Market) and FEE
  (European Federation of Accountants) are observers and
  regular attendees of XBRL Europe events
 XBRL Europe Organisational Structure
                                          XBRL Europe
     Members                            Executive Committee,
                                          Secretary General
                                        Strategy, Operations,
                                         & Audit Committee




  WC By-Laws       WC Euromarcom            WC Project              WC Strategy & EU
Marc Hemmerling   Noemi di Segni (It)      Coordination                  Liaison
      (Lux)                             Derek de Brandt (Be)       Jean Luc Menda (Fr)


                                          WG EU Business Register – Thomas Verdin (Fr)

                                          WG COREP FINREP Harmon – Dererek Debrandt (Be)

                                          WG IFRS Extensions – Bodo Kesselmeyer (Ge)

                                          WG Usability Forum –Bellanger (Fr)/Frank (Ge)
    XBRL Europe Working Committees/groups – Work
    carried out in the last months
    EU Business register Working group
       In depth Survey in 5 countries – monthly conference calls
       Liaison launched with EBR (European Business Register) based in London
        which developed a platform software to store annual accounts.
       Presentation of the work at the Paris Conference and Decision to launch a
        common taxonomy layout between 4 candidate countries
       Next steps 2009 : Work on the common core taxonomy, Mapping diagram
    IFRS Extensions working group
       Start of the work for the IFRS extensions with IASCF and with XBRL
        Germany for specific German purposes
       Presentation of the work at the Paris Conference
       Common work between UK and Germany and IASB for first common
        contexts
    XBRL Europe Working Committees/groups – Work
    carried out in the last months
    COREP-FINREP harmonisation working group
       Participation in CEBS Corep/Finrep Harmonisation Committee and on new
        COREP and FINREP definition
       Works ongoing
         FINREP functional framework close to final version
         Taxonomy works have started (data model, matrix schema, architecture, DTs
         First draft of taxonomy (without formulae) scheduled for end of 2009
    Analysts/users Working group
       Charter established and group launched
    Monnet Projet (See after)
    Euromarcom
       Strategy : to communicate about XBRL Europe and to grow the
        membership. To assist in the creation of other EU jurisdictions
       Participation in the 19th conference preparation
       Work on the New Website (www.xbrl.org/eu) and presentation at the Paris
        conference
       Work on the 20th International conference
   XBRL Europe Strategy & workplan for 2009/2010

 Strategy and EU liaison Working Committee
     Strategy: To define and review XEU strategy and especially about
        Awareness and lobbying towards the European level institutions (EU,
         EP, ECB, CESR, CEBS, CEIOPS, etc)
        Supporting the jurisdiction development
        Attracting new members
     Next steps 2009/2010:
        Broader awareness in European organisations/Federations and EU
         Commission,
        Support to jurisdiction development (Greece, Austria, Central Europe)
        Liaison with World Bank in Austria.
        Membership development (UK, Sweden, Switzerland, Poland). Focus
         on direct membership (Commercial and Association)
        Strengthening liaison with EU, FEE, ECB, CESR and CEIOPS
        Answers to new consultation papers (like the CESR call for evidence
         about XBRL which is to be launched very soon)
    Monnet FP 7 update
 Project (2,4 M€) selected by European Commission in
  which XBRL Europe is involved
   Project about multilingual and ontological tools using XBRL for 3 years.
   XBRL Instance documents and Taxonomies will be used to test the
    possibibility to translate them immediately in locating the translated
    contexts in some centralised databases.
   XBRL Europe is part of a consortium involving research institutions like
    University of Galwayand companies like SAP.
   3 persons of XBRL Europe are mentioned in the proposal (DoW –
    Description of Work) : Derek de Brandt, Thomas Verdin, Gilles Maguet)
XBRL Consortium Worldwide - Status October 2009
                                        XBRL
                                       Europe

                                                           NO
                                                     SE
                                                                     FI
                                        NL      DE
                                                                     CZ
                                                DK                                              RU
                            IASB        LU                 PL
                                                                          HU
                 CA
                                                                                SI
                                  UK
                                                      CH                  AT
                                                                                     UA
                             IE                                SRB
                                        BE
                                                                                TR
                  US
                                  ES
                                                                                                     CN
                                                                                GR
                                                FR
                                       PT
                                                                                      IL                                 JP
                                                                           LB                                  KR
                                                                IT
                                                                                           IN
                                                          MT                                         TW   HK
 Established
 Jurisdictions
                                                                                     AE
 Provisional                                                                                    SG
 Jurisdictions         BR

 Focus in 2009-2010
                                                                                                                    AU
 Projects                                                                 ZA
 Ongoing
                                                                                                                              NZ

                                   Countries that require or permit IFRSs

                                   Countries seeking convergence with the IASB on pursuing adoption of IFRSs
  Interoperability, European Institutions initiatives & XBRL
 Start: EP and Council launched Transparency directive 2004/109/EC in
  2004 “Access for investors to information (…) should be more organised
  at a Community level” and then with Directive 2004/39/EC MiFID
  Directive about harmonised regulation for investment services in EU.
 Since 2005 CEBS supported the XBRL format in relation to COREP and
  FINREP reporting & published in 2009 workplan & priority activities
  (including developments of COREP & FINREP taxonomies) to reach with
  CEIOPS harmonised supervisory reporting by 2012.
 CESR has launched a “CALL for EVIDENCE” about XBRL, while the US
  SEC has mandated in the US use of XBRL to report listed companies
  financial statements.
 EC launched in 2009 Consultations papers: 1) 4th and 7th directives
  reforms following the burden reduction programme launched by DG
  ENTR and related to “national financial statements” simplification &I
  nteroperability; 2) about the de Larosière report. XBRL was mentioned as
  a language to be possibly used in the 1st consultation. XBRL Europe
  made recommendations in both for the use of XBRL as a tool for
  simplification, interoperability and Burden reduction.
  Interoperability, European Institutions initiatives & XBRL
 EC proposed in October 2009 to reorganise the Financial supervision:
      European Systemic Risk Board (ESRB) as 'macro-prudential supervision',
       and European System of Financial Supervisors (ESFS) for the supervision
       of financial institutions ('micro-prudential supervision'),  a network of
       national financial supervisors & the new European Supervisory Authorities,
       (transformation of CESR, CEBS & CEIOPS Committees), European Banking
       Authority (EBA), European Insurance and Occupational Pensions Authority
       (EIOPA), the European Securities and Markets Authority (ESMA).
      “Common Technical standards” are called upon in the founding
       documents. XBRL has a role to play to set up these standards with EBA,
       ESMA and EIOPA.
 EC published the results of the 1st consultation (4th&7th directives).
  XBRL is largely positively mentioned in the answers.
      "The majority of respondents with an explicit opinion supported a common
       EU XBRL taxonomy. Strongest support came from preparers followed by
       public authorities”
 20th XBRL International Conference

 And do not forget




 The Next 20th XBRL International Conference from
  19th – 23rd of April 2010 in ROME
 Co-organised by XBRL Italy with the support of XBRL
  Europe
 Registration at www.xbrl.org
  Thank You
gilles.maguet@xbrl-eu.org


   SECRETARY GENERAL
       XBRL Europe
Avenue d’Auderghem, 22-28
     B-1040 Brussels


   +33.4.72.56.50.40
   +33.6.71.62.31.19

				
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