XBRL Pilot Project Task Force - 9 April 2008 1

Agenda item 2

Final Report of Phase 2 of the Pilot Project

XBRL Pilot Project Task Force

9 April 2008

2XBRL Pilot Project Task Force - 9 April 2008

Planned actions (1)

• New module(s) of the European taxonomy

- focus on Short-Term Statistics (STS)

• Mapping of existing XBRL reports to the European taxonomy

3XBRL Pilot Project Task Force - 9 April 2008

Planned actions (2)

• Extract statistics from XBRL reports produced for purposes other than statistics:

- Balance sheets

- Accounting

- Tax…

• Transform these instances into instances of the European taxonomy

• Check if these latter are useful for NSIs

4XBRL Pilot Project Task Force - 9 April 2008

Planned milestones (from last TF meeting)

• Local existing XBRL report for purposes other than statistics

- decision made by mid May 2007

• Providing XBRL instances of the reports previously identified

- sending by mid June 2007

• Once the target instances based on the European Taxonomy are generated, checking whether those target instances are useful for NSIs

- results by early/mid December 2007

5XBRL Pilot Project Task Force - 9 April 2008

Outcomes…..(1)

NL – CBS

• NTP Taxonomy 1.1 used for mapping

• IFRS-based taxonomy – moderate success rate for mapping to SBS (33%) and STS (52%) variables in European taxonomy version 4.0

• Test instances based on NTP Taxonomy 1.0 and not fully populated, therefore no transformations possible

6XBRL Pilot Project Task Force - 9 April 2008

Outcomes…..(2)

BE - STATBEL

• CBSO-NBB Taxonomy 1.1 used for mapping

• GAAP-based taxonomy – low success rate for mapping to SBS (5%) and STS (9%) variables in European taxonomy version 4.0

• Test instances were available

7XBRL Pilot Project Task Force - 9 April 2008

Outcomes…..(3)

IE - CSO

• Irish GAAP Taxonomy 2.1 used for mapping

• GAAP-based taxonomy – low success rate for mapping to SBS (9%) and STS (13%) variables in European taxonomy version 4.0

• Test instances were available

8XBRL Pilot Project Task Force - 9 April 2008

Outcomes…..(4)

ES - INE

• ES-BE-CB Taxonomy 1.1 used for mapping

• GAAP-based taxonomy – low success rate for mapping to SBS (9%) and STS (17%) variables in European taxonomy version 4.0

• Test instances were sent too late to be used within the Pilot Project

9XBRL Pilot Project Task Force - 9 April 2008

Outcomes…..(5)

SE - SCB

• Had been willing to participate but test instances would only have been available for an older version of the national taxonomy which was in Swedish; no progress was possible

10XBRL Pilot Project Task Force - 9 April 2008

Outcomes…..(6)

• Very limited number of test XBRL instances from companies made available by countries in TF

• Low level of successful mapping between test instances and SBS/STS variables

• GAAP-based taxonomies did not give useful basis for generating SBS/STS statistics

• Even where mapping was apparently possible, there are open questions about whether the underlying definitions and concepts are identical (or can be derived) between accounting data and statistical data

11XBRL Pilot Project Task Force - 9 April 2008

Questions

• Does the Phase 2 final report correctly represent the work with the Task Force countries?

• Are there new developments on XBRL in Task Force countries?

12XBRL Pilot Project Task Force - 9 April 2008

<end of item 2>

XBRL Pilot Project Task Force - 9 April 2008 13

Agenda item 4

Overview of the Pilot Project and conclusions for future work

XBRL Pilot Project Task Force

9 April 2008

14XBRL Pilot Project Task Force - 9 April 2008

The context…..

Less burden for businesses

15XBRL Pilot Project Task Force - 9 April 2008

…..of the XBRL Pilot Project

…to test the feasibility of exploiting for statistical purposes the use of XBRL in company reporting (for example, the accounts delivered to national regulators, central banks…)in order to lower the reporting burden to enterprises

16XBRL Pilot Project Task Force - 9 April 2008

Conclusions (1)

• Proved that it was feasible to create a European statistical XBRL taxonomy for SBS and STS

• Did not identify areas other than SBS or STS

• Low level of mapping between national GAAP-based taxonomies and the European statistical taxonomy

• Very limited number of test XBRL instances from companies made available by countries in TF

17XBRL Pilot Project Task Force - 9 April 2008

Questions (1)

Why were there so few cases of real XBRL instances from companies?

– accounting software and management information systems at companies are not capable of producing XBRL output ?

– accounting software and management information systems at companies are capable of producing XBRL output but the rather complex state of national XBRL taxonomies has made it difficult for companies to exploit this capability ?

– companies see no added value in producing reports in XBRL; there is as yet no European initiative corresponding to the US SEC programme for XBRL reporting ?

18XBRL Pilot Project Task Force - 9 April 2008

Conclusions (2)

• Even where mapping was apparently possible, there are open questions about whether the underlying definitions and concepts are identical (or can be derived) between accounting data and statistical data

19XBRL Pilot Project Task Force - 9 April 2008

Conclusions (4)

• Diversity of national XBRL taxonomies reflects the complexity of existing financial reporting arrangements, where different companies are required to follow GAAP and/or IFRS and where local GAAPs may substantially differ from IFRS and among each other. The latter would impose difficulties to create European wide taxonomies for given statistical areas with a high matching of concepts.

20XBRL Pilot Project Task Force - 9 April 2008

Next steps (1)

1. Member States’ views on conclusions of Pilot Project

2. Eurostat/DDG-02 project to develop taxonomy linking accounting and statistical concepts focused on SMEs (with in-depth investigation of definitions and concepts)

3. Inside Member States: decisions and investment to achieve more homogenous reporting requirements for companies

4. Common ESS approach on technical infrastructure

• European statistical taxonomy

• XBRL Reference Environment as basis for NSI IT infrastructure

21XBRL Pilot Project Task Force - 9 April 2008

Next steps (2)

MEETS programme funding available from 2009

but

Progress on improvement of reporting frameworks

before

Technical infrastructure for XBRL

Question to XBRL Task Force members:

Do you have ideas for actions for MEETS?