XBRL Europe– Thursday 19 November 2009

XBRL Europe presentation to 11th

CEBS XBRL Workshop

“The Progress of XBRL in Europe”

Gilles Maguet – Secretary General

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

WHERE XBRL IS USED ? IN WHICH SECTORS ?WHERE XBRL IS USED ? IN WHICH SECTORS ?

XBRL Projects in Europe XBRL Projects in Europe by sector – October 2009by sector – October 2009

Country

Jur CatXBRL Europe

Member

COREPorFINREP in XBRL

Filing

Project

CommentsFiling

in XBRL

Filing

Project

CommentsFiling

in XBRL

Filing

Project

CommentsFiling in XBRL

Filing

Project

CommentsFiling

in XBRL

Filing

Project

CommentsFiling

in XBRL

Filing

Project

Comments

Belgium E M E M ELocal GAAP (300.000 accounts/year)

M I Corporate tax I Business structure survey

Denmark E V E Local GAAP IInitiative with annual

accounts filing V E

France E M Eplus other Banking Filing in XBRL SURFI Project.

V I Local GAAP ITaxo for CEO Sal

monitoring

Germany E M E V E

Local GAAP&IFRS ; V but XBRL preferred (400,000/year) ; Efiling is mandatory

M I Under discussion M IDeutch Bundesbank

German Central Bank

Greece No V I

Ireland E V I IPlans for future adoption (timeline 2009-2011)

Plans for future adoption (date not defined)

I IGovt Dept Enterprise sponsored joint filing

program

Italy E V I M ILocal GAAP (1.200.000 accounts/year)

IInitial projects. Istat

member of XBRL Italy M I I

Initial project on invoicing in private sector

Lithuania V I To be checked

Luxembourg E M E V IProject : Annual accounts electronic data collection” STATEC

V IProject : Annual accounts electronic data collection” STATEC

I Stock Exchange project

Macedonia No V IThrough World bank initiative - to be checked

Netherlands E V E

SBR progr. Credit info filings from bus. to banks; DutchNationalBank supports vol. FINREP/COREP filings.

V I Through SBR programme V E Through SBR programme V E Through SBR programme V EEMU reporting by Water

Boards to National statistics

Poland P M E M I V I Warsaw Stock Exchange

Serbia No V IThrough World bank initiative - to be checked

Spain E M E M ELocal GAAP ; 600.000 XBRL reports

M E Since 2005

V VV

Central Balance Sheet OfficeMunicipalitiesCorporate 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 progressP: Provisionnal Filing M: Mandatory V: Voluntary

National Statistics Securities RegulatorOther Initiatives (Stock

exchanges, Private)XBRL

JurisdictionBanking sector

Business Register Sector (registrars)

Revenue&Tax Filing

XBRL Projects in EuropeXBRL 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?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 ObjectivesThe 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 MembersXBRL 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 StructureXBRL Europe Organisational Structure

WC By-LawsMarc Hemmerling

(Lux)

XBRL EuropeExecutive Committee,

Secretary GeneralStrategy, Operations,& Audit Committee

Members

WC EuromarcomNoemi di Segni (It)

WC Project Coordination

Derek de Brandt (Be)

WC Strategy & EU Liaison

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 XBRL Europe Working Committees/groups – Work carried out in the last monthscarried 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 XBRL Europe Working Committees/groups – Work carried out in the last monthscarried 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 XBRL Europe Strategy & Strategy & workplan for 2009/2010workplan 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 2009XBRL Consortium Worldwide - Status October 2009

Countries seeking convergence with the IASB on pursuing adoption of IFRSs

Countries that require or permit IFRSs

UKCA

ESUS

AU

NZ

IE

JPKR

BE

BR

PT

RU

SG

HK

NOSE

PL

FI

IT

CN

INLB

CZ

UA

LUIASB

AE

NL

TR

GR

MT

FR

SIHU

AT

Established Jurisdictions

Provisional Jurisdictions

Projects Ongoing

DE

DK

ZA

Focus in 2009-2010

IL

CH

SRB

TW

XBRL Europe

Interoperability, European Institutions initiatives & XBRLInteroperability, 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 & XBRLInteroperability, 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 YouThank 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