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
Country
XBRL
Jurisdiction
Jur Cat
Banking sector
COREPo
XBRL Europe
Fili Proje
rFINREP
Member
ng ct
in XBRL
Belgium
E

Denmark
E

France
E


M
E
Germany
E


M
E
Greece
No

V
I
Ireland
E


V
I
Italy
E


V
I

V
I

M
E
Lithuania
Luxembourg
E
Macedonia
No
Netherlands
E
Poland
P
Serbia

M
E

V
E

M
E
plus other Banking Filing in
XBRL SURFI Project.
Filing
Fili Proj
in
ng ect
XBRL
Comments

M
E
Local GAAP (300.000
accounts/year)

V
E
Local GAAP

V
I
Local GAAP

V
E
Local GAAP&IFRS ; V but
XBRL preferred
(400,000/year) ; Efiling is
mandatory
I
Plans for future adoption
(timeline 2009-2011)
Local GAAP (1.200.000
accounts/year)

M
I

V
I

V
I

V
I
SBR progr. Credit info
filings from bus. to banks;
DutchNationalBank
supports vol.
FINREP/COREP filings.
Through SBR programme
V
I
Through World bank
initiative - to be checked

M
E
E
P

V
E
Local GAAP
E

V
I
Local GAAP and IFRS
Sweden
Switzerland
UK

M
Comments
M
I
Corporate tax

I
Initiative with annual
accounts filing


Filing in Fili Proje
XBRL ng ct
I
V
Comments
M
I
Under discussion

M
Plans for future adoption
(date not defined)
Comments
Filing
Filin Proj
in
g ect
XBRL
E
I
Taxo for CEO Sal
monitoring
Deutch Bundesbank
German Central Bank
I
Govt Dept Enterprise
sponsored joint filing
program

I
Initial project on invoicing
in private sector
I
Stock Exchange project
I
I

Comments
Business structure survey
Initial projects. Istat
member of XBRL Italy

M
I

V
E
Through SBR programme

V
I
Project : Annual accounts
electronic data collection”
STATEC


V
E
Through SBR programme

V
E
EMU reporting by Water
Boards to National
statistics
I

V
I
Warsaw Stock Exchange
E



V
V
V
E


M
I
M
M
Since 2005
2011-New Taxo
Recommandation on XBRL
CESR
EUROSTAT
Legend :
Filing
Fili Proj
in
ng ect
XBRL
I

Other Initiatives (Stock
exchanges, Private)
Securities Regulator



National Statistics
Filing
Fili Proje
in
ng ct
XBRL
Project : Annual accounts
electronic data collection”
STATEC
Through World bank
initiative - to be checked
Local GAAP ; 600.000
XBRL reports
E
Revenue&Tax Filing
To be checked
No
Spain
CEBS


Comments
Business Register Sector
(registrars)
Call for Evidence on XBRL
Some XBRL promoting
XBRL Jurisdiction E: Established
P: Provisionnal
Project E: Established - I: In progress
Filing M: Mandatory V: Voluntary
XBRL Projects in Europe
by sector – October 2009
Central Balance Sheet
Office
Municipalities
Corporate Social
Responsibility
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
WC By-Laws
Marc Hemmerling
(Lux)
Executive Committee,
Secretary General
Strategy, Operations,
& Audit Committee
WC Euromarcom
Noemi 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
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
IASB
LU
DE
CZ
DK
RU
PL
HU
CA
SI
UK
CH
IE
US
AT
SRB
BE
TR
ES
PT
CN
GR
FR
IT
LB
IL
JP
KR
IN
MT
Established
Jurisdictions
Provisional
Jurisdictions
UA
TW
HK
AE
SG
BR
Focus in 2009-2010
AU
Projects
Ongoing
ZA
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