Enhancing Reporting with the Global

Business Reporting Standard

Part 1:Paradigm Shift

112.788.600,00

ASSETS

IFRS

IAS1 Para 55 Stock

Monetary

Gesamtvermögen

總資產Total Assets

совокупные активы

OWNERS EQUITY

TOTAL ASSETS

TOTAL LIABILITIES= -

if{

}then ERROR = “Balance sheet does not balance. Please review.”

SPECIFICATIONSDICTIONARIES

DATA

SPECIFICATIONSTAXONOMIES

INSTANCES

GLOBALNOT FOR PROFITPUBLIC INTEREST

Our purpose is to improve the accountability and transparency of business performance globally, by providing the open standard for data exchange in business reporting.

Part 2:Why?

XBRL? NO THANK

S!

STRUCTURED DATA AND EXECUTABLE BUSINESS

RULES?

YES!!

DRIVER FOR REGULATORS

MULTI-DIMENSIONAL

DEFINITIONS AND TRANSPORT

MULTI-DIMENSIONAL

DEFINITIONS AND TRANSPORT

DRIVER FOR REGULATORS

CLEAR DEFINITIONS BUILT INTO

TAXONOMIES

PUBLIC BUSINESS RULES BUILT INTO

TAXONOMIES

MULTI-DIMENSIONAL

DEFINITIONS AND TRANSPORT

++

EXTENSIBILITY

+

Report this

and this

and thisBut not this or this

Presentation vs DATA

two documents

Inline Xbrl

XBRL GLOBAL LEDGER

TOTAL SALES

2015-09-17 | 08:23:22:14 ACME INC 8 WIDGETS £102.23 SALES

2015-09-17 | 08:24:11:22 XYZ INC 11 WIDGETS £122.00 SALES

2015-09-17 | 08:24:11:53 ABC LTD 4 WIDGETS £30.23 SALES

… …

Part 3:Where?

• United Arab Emirates Securities and Commodities Authority

• Mandatory reporting

• Enabling investment locally and internationally.

• Companies House in the UK• iXBRL (Web pages + XBRL)• 1.9M+ companies’ data freely available• Facilitating resource allocation

• US SEC collects quarterly financial statements in XBRL from all listed companies. Purpose: market surveillance and market disclosure.

• European Banking Authority (EBA) implementing the Basel Committee for Banking Supervision rules post financial crisis

• 7000+ Banks across Europe using the same taxonomy• Improving compliance and certainty

• Dutch Banks are extending the SBR Taxonomy in order to collect data from companies

• The purpose? Better Credit Allocation

• Dutch Banks are extending the SBR Taxonomy in order to collect data from companies

• The purpose? Better Credit Allocation

• China using XBRL for reporting to Stock Exchanges as well as State Owned Enterprises to enhance transparency and accountability

• XBRL now being used to enhance management information as well

VOLUME VARIETY VELOCITY VERACITY

Part 4:Analysis

Part 5:Balance

Regulatory balancing act

Burden & Cost

Scope & Utility

A JOURNEY IN MATURITY

EcosystemData RequirementsData ConsistencyChange ManagementAnalytics Framework

Five tips for regulators① Go slowly! Don’t underestimate

change requirements.② Be driven by analytic needs.③ Collaborate to reduce burden.④ Encourage system-to-system filings

by focusing on software ecosystem.⑤ Use the testing capabilities of XBRL to

your advantage.

Five tips for filers① Go fast!② Create a roadmap that leads to embedded,

integrated reporting. Outsource -> Bolt On -> Last Mile -> Embedded

③ Learn how your data gets used by stakeholders④ Think in terms of your own capabilities not just

as compliance.⑤ Develop your own knowledge base and process

Conclusion

SPECIFICATIONSTAXONOMIES

INSTANCES

Our purpose is to improve the accountability and transparency of business performance globally, by providing the open standard for data exchange in business reporting.

A JOURNEY IN MATURITY

EcosystemData RequirementsData ConsistencyChange ManagementAnalytics Framework

WELCOME!