CEN/WS XBRL
CWA1: European Filing Rules
12 December, 2012
Katrin Heinze, Bundesbank
Page 1
CWA1
Objectives
Standardisation of the
European XBRL architecture and common instance filing rules to
cover appropriately the list of harmonisation topics listed in Annex B of the CEN
WS XBRL Business Plan
Facilitate transparency on the harmonised reporting data across Europe
increase interoperability between services and applications
overcome lack of harmonisation in the use of the XBRL standards
reduce the reporting burden of international acting reporting entities by
providing the possiblity to standardize the reporting processes
Definition of an
European Data Point Methodology to
represent the requirements of European reporting frameworks in a data model
link the business requirements with the technical transfer format
create a human readable representation of the content and relations
defined in XBRL
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CWA1
Level of Harmonisation in Europe
Reporting
entity
Data Point Model
Harmonised
Not
harmonised
XBRL Data Format &
XBRL Filing
?
Not
harmonised
European
Reporting
Frameworks
Page 3
European
Supervisor
Deliverables of CWA1
Official CEN Deliverables
Specification document
Specification document
Non-normative document
European XBRL Architecture
European Filing Rule set
European Data Point Methodology
Complementary deliverables (depending on time constraints)
Definition of Best Practices on
Tagging of cells
Versioning of European taxonomies
Dealing with European taxonomy extensions
Conformance Suite on taxonomy syntax rules
Page 4
CWA1
Organisation of CWA1 team work
Regular conference calls via powwownow.com
Cooperation on documents via Wiki technology
Regular CEN WS XBRL F2F meetings
Page 5
CWA1
Filing rules as first deliverable of CWA1
Background for the definition of filing rules
XBRL is a framework for the definition of data formats
provides a high degree of flexibility for the creation of
taxonomies and instance documents
flexibility requires complex IT systems to react
appropriately on all possible variants that the standard
allows,
like definition of units, accuracy of values, usage of footnotes,
periods, identifiers etc.
Page 6
European Filing Rules (EFR)
Rules to be followed for the preparation and validation of instance
documents in an European filing process
Place additional constraints on XBRL instance document
Advantages
XBRL Filing
Harmonization on a technical level
Enhance the interoperability of IT systems
Ease of comparison of reporting data
Ease the validation of instance documents
Giving rules to reporting entities as guidance
Harmonized rules decrease the reporting burden for reporting entities
across Europe
Codified rules can be automatically tested
currently only with proprietary software
?
Page 7
Related approaches
Approach
Year
Status
Publisher
Coverage
Rules on
FRIS1
2004
PWD2
XII3
XBRL 2.1 - only
XBRL Instances
Global Filing
Manual
2010
Best
Practices
SEC, FSA Japan, IFRS
XBRL Standard
XBRL Instances
and Taxonomies
European Filing
Rules
2013
PWD2
CEN
XBRL Standard
XBRL Instances
European Filing Rules: part of the CWA1 deliverables of the standardization
process of CEN/WS XBRL
De-jure standard by 2014
oriented to reporting entities preparing the filings on basis of EIOPA and EBA
taxonomies
Recommendations to be adopted by NSAs and European Supervisory Authorities
EFL
FRIS
GFM
Page 8
1
2
3
Financial Reporting Instance Standards
Public Working Draft
XBRL International Inc.
Structure of the Deliverable
Currently 45 rules separated in two chapters
Filing syntax rules
Rules for the complete document to be filed
Instance syntax rules
Syntax rules for the instance document and its subordinated objects
Contexts
Facts
Units
Footnotes
Open discussions (small selection)
How to ensure validity according to XBRL Formula in huge instance files?
Should it be allowed to send partial datasets?
Should XML fragments in scenario be prohibited?
How to define the language,
accept multiple languages in one instance?
Page 9
Modeling aspects for standardization
Filing rules need to be implemented on sender and receiver side to
ensure that the requirements of the filings are met
FRIS and GFM define rules in natural language exclusively
 possible ambiguities while interpreting the rules
Rules must be easily understandable by software developers
Way forward by using modeling techniques for the defined constraints
Current rules are based on texts and represent an informal model
Formal models limit the margin of interpretation for persons with mathematical
background
Formal models are based on an appropriate meta model which provide formal syntax
and semantic
Aim: Rules should be covered to a high degree in a formal model
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Modeling the European Filing Rules
Meta
model
Object
system
modeling
Model
system
Object system comprises the clearly delimited real system and also its relevant
environment.
The object system is the XBRL instance document and the constraints defined on the preparation of
XBRL instance documents. The constraints are based on the objects contained in an instance
document and the relations among each other.
Meta model provides model components, rules on how to combine components and the
meaning (semantic) for the components and relations.
UML class diagram to describe the structure of the XBRL instance by showing the classes, their
attributes and possible methods.
OCL (Object Constraint Language) is a formal language for specifications, which refers to an UML
model to describe constraints about the objects in the model.
Model system must be consistent and complete. It must reflect the structure
of the object system.
Page 11
Draft model system for EFR
Page 12
Collaborative work progresses in XBRL Wiki
http://xbrlwiki.info/index.php?title=European_Filing_Rules
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How to contribute
Take part in the discussions on XBRL Wiki
Login request via info@eurofiling.info
Via Google group CEN-WS-XBRL-CWA1
discussion
Page 14
Next steps
Non-normative document on European Data Point
Model
Identification of its characteristics
Describe its objects and their relations
Define rules to be followed for
Data Point Model
Creating data formats
Ease the understanding for business experts
Supporting the implementation of interfaces
Combining related reporting frameworks
Creating data structures to be used in data warehouses
Creation of a formal model to ease the implementation
Page 15
Thanks for your attention
katrin.heinze@bundesbank.de
Comments or questions?
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CWA1