Should Taxonomies be Open-Source?
Panel Debate
David Bray
IASC Foundation Contracts Coordinator
Michal Piechocki
IASC Foundation XBRL Team
Introduction
Open and Closed Source
Open Source
Source code is publicly available
Voluntary participation, open projects
Idea of cooperation
Open to all contributors
Source code is “Free” – Additional services can be charged for
Sample projects: Linux, Mozilla Firefox, Eclipse
Closed Source
Closed projects, source code not required to be publicly available
Project usually managed by a single legal entity
Only selected members contribute (restricted)
Contribution only from within the group
Proprietary products for sale
Sample products: Windows, Oracle etc.
Should Taxonomies be Open-Source?
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Taxonomy License
Should Taxonomies be Open-Source?
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Ownership
Who owns the taxonomy?
IASC Foundation Taxonomy License
IASC Foundation
GNU General Public License
The author(s) of the taxonomy
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Extensions
Who can extend? Who owns the extension?
IASC Foundation Taxonomy License
Anyone can modify (extend)
The author owns the extension
The owner can licence the taxonomy under any terms they choose
GNU General Public License
Anyone can modify (extend)
The author owns the extension
The GNU GPL applies to the modifications
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Translations
Who can translate? Who owns translation?
IASC Foundation Taxonomy License
Only with IASC Foundation consent
IASC Foundation coordinates translation
IASC Foundation owns the translation and releases it under IASC Foundation Licence
GNU General Public License
Anyone can translate
The author owns the translation
GNU GPL applies to the translation
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Implementation
Who can implement? The scope of implementation?
IASC Foundation Taxonomy License
Anyone can use or implement the Taxonomy, translation is restricted
Use is restricted, but IASC Foundation allows most potential uses
Cannot charge for supplying the taxonomy
May charge for related products and services
GNU General Public License
Anyone can use or implement the taxonomy, extensions or translations
The GNU GPL does not restrict use
Distribution may be charged for, but is of limited value
Related services may be charged for
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Publication
Who can publish information about the taxonomy?
IASC Foundation Taxonomy License
Anyone
Under XBRL IP Policy
Unrestricted
GNU General Public License
Anyone
GNU GPL should be mentioned
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Profits
Who can generate revenue from the taxonomy?
IASC Foundation Taxonomy License
No one from the taxonomy
Possible from services
GNU General Public License
Anyone – unrestricted
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Taxonomy Development Process
Should Taxonomies be Open-Source?
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IFRS XBRL Taxonomy Internal life cycle
IFRS Standards
Release
IFRS Requirements
IASCF / IASB
Initial Taxonomy
Drafts
Internal
Review & Validation
Issues & Comments
Issues & Comments
Taxonomy Update
Business
Entities
Review
Taxonomy
Release
Business Entities
IASCF XBRL Team
Should Taxonomies be Open-Source?
XBRL
TRP / TAP
XBRL Consortium
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IFRS XBRL Taxonomy Publication process
Taxonomy
Release
Business
Entities
Review
XBRL
TRP / TAP
Internal
issues evaluation
Issues submission
Issues submission
Issue
corrected / rejected
Corrections
Improvements
Business Entities
New Taxonomy
Release
IASCF XBRL Team
Should Taxonomies be Open-Source?
XBRL Consortium
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Potential Open Source Development Cycle
IASCF scope necessary
amendments to taxonomy
IFRS Standards
Release
IASCF XBRL Team
IASB
IASCF Publish necessary
developments to the Taxonomy
Volunteer groups undertake
the work required
Adoption by
Companies
using
IFRS XBRL
Issues &
Comments
The Community
Community Review of
proposed developments
Internal Review & Validation
of community submissions
IASCF XBRL Team
Taxonomy
Release
Include accepted submissions
into IASCF Taxonomy
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Open Source Collaboration
XBRL Services
Providers
Other IFRS Users
Companies
Jurisdictions
XBRL Taxonomy
•IASCF contributes
the current taxonomy.
•Manages the versioning.
•Coordinates the
Community.
Regulators
•IASCF carries
out quality control.
•Publishes an ‘official’
version of the
Taxonomy which it
endorses.
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Should Taxonomies be Open-Source?
Panel Debate
Moderator: Josef Macdonald
Participants:
Joanne Locke (University of Waikato)
Marc Van Hilvoorde (XII Domain Working Group Chair)
Bill Swirsky (XII Executive Committee)
David Bray (IASC Foundation Contracts Coordinator)
Timo Philipp (IASC Foundation XBRL Team)
Michal Piechocki (IASC Foundation XBRL Team)
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A presentation by the IASC Foundation XBRL Team