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XBRL: Implementing XBRL in the international environment Daniel Roberts National Director of Assurance Innovation Cha

. Agenda. What is XBRL, and Why does XBRL matterWhat is happening Internationally?Investment marketsGovernmental activityFundamentals for identifying an XBRL projectImplementing an XBRL project/environmentRegulatorInternal reportingNGO / Funding Agency. What is XBRL. XBRL is to the printed annual report, what the internet is to the printed Yellow Pages..

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XBRL: Implementing XBRL in the international environment Daniel Roberts National Director of Assurance Innovation Cha

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    1. XBRL: Implementing XBRL in the international environment Daniel Roberts National Director of Assurance Innovation Chair, XBRL-US Steering Committee May 9, 2006

    2. Agenda What is XBRL, and Why does XBRL matter What is happening Internationally? Investment markets Governmental activity Fundamentals for identifying an XBRL project Implementing an XBRL project/environment Regulator Internal reporting NGO / Funding Agency Regulators: FDIC, CESR, CEBS, SEC Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc. Project disciplines: = what do you want to accomplish = who are the major stakeholders = Who is / are the champions at very senior levels = Professional disciplined project management is critical = XBRL is not a quick / easy fix Start with a couple of data streams – reports that are provided or required. Look for common information that is used or provided to multiple users. Look at processes that repeated. Regulators: FDIC, CESR, CEBS, SEC Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc. Project disciplines: = what do you want to accomplish = who are the major stakeholders = Who is / are the champions at very senior levels = Professional disciplined project management is critical = XBRL is not a quick / easy fix Start with a couple of data streams – reports that are provided or required. Look for common information that is used or provided to multiple users. Look at processes that repeated.

    3. What is XBRL XBRL is to the printed annual report, what the internet is to the printed Yellow Pages.

    4. What is XBRL? An industry standard for the publishing, exchange and analysis of financial reports and data. Information is entered only once using an Internet-based tool for preparing and publishing all financial documents with automatic conversion to various formats Information may be reliably extracted and analyzed across companies with no manual intervention Supports current accounting standards

    5. What is XBRL?

    6. What is XBRL?

    7. The Gartner Hype Cycle: 2004

    8. The Gartner Hype Cycle: 2005

    9. XBRL Taxonomy Growth http://www.xbrl.org/FRTaxonomies/http://www.xbrl.org/FRTaxonomies/

    10. XBRL Tools Growth (Representative Listing) http://www.xbrl.org/tools http://www.xbrl.org/productsandservices There are more software tools in specific territories such as Japan, Germany, China, etc. http://www.ffiec.gov/find/softwarefocusgroup.htm FDIC vendors DBI Financial Systems, Inc. FinArch FRS Global Financial Reporting & Analytics IDOM, Inc. Information Technology, Inc. Fidelity Regulatory Solutions Jack Henry & Associates Inc. http://www.xbrl.org/tools http://www.xbrl.org/productsandservices There are more software tools in specific territories such as Japan, Germany, China, etc. http://www.ffiec.gov/find/softwarefocusgroup.htm FDIC vendors DBI Financial Systems, Inc.FinArchFRS Global Financial Reporting & AnalyticsIDOM, Inc.Information Technology, Inc.Fidelity Regulatory SolutionsJack Henry & Associates Inc.

    11. Agenda What is XBRL, and Why does XBRL matter What is happening Internationally? Investment markets Governmental activity Fundamentals for identifying an XBRL project Implementing an XBRL project/environment Regulator Internal reporting NGO / Funding Agency Regulators: FDIC, CESR, COREP Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc. Project disciplines: = what do you want to accomplish = who are the major stakeholders = Who is / are the champions at very senior levels = Professional disciplined project management is critical = XBRL is not a quick / easy fix Start with a couple of data streams – reports that are provided or required. Look for common information that is used or provided to multiple users. Look at processes that repeated. Regulators: FDIC, CESR, COREP Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc. Project disciplines: = what do you want to accomplish = who are the major stakeholders = Who is / are the champions at very senior levels = Professional disciplined project management is critical = XBRL is not a quick / easy fix Start with a couple of data streams – reports that are provided or required. Look for common information that is used or provided to multiple users. Look at processes that repeated.

    16. Tax Authorities

    17. Financial Banking Regulators

    18. Exchanges & Equity Regulators

    19. Agenda What is XBRL, and Why does XBRL matter What is happening Internationally? Investment markets Governmental activity Fundamentals for identifying an XBRL project Implementing an XBRL project/environment Regulator Internal reporting NGO / Funding Agency Regulators: FDIC, CESR, COREP Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc. Regulators: FDIC, CESR, COREP Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc.

    20. Project Disciplines

    21. Agenda What is XBRL, and Why does XBRL matter What is happening Internationally? Investment markets Governmental activity Fundamentals for identifying an XBRL project Implementing an XBRL project/environment Regulator Internal reporting NGO / Funding Agency Regulators: FDIC, CESR, COREP Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc. Regulators: FDIC, CESR, COREP Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc.

    22. Project Disciplines

    23. Project Disciplines

    24. Project Disciplines

    25. Agenda What is XBRL, and Why does XBRL matter What is happening Internationally? Investment markets Governmental activity Fundamentals for identifying an XBRL project Implementing an XBRL project/environment Regulator Internal reporting NGO / Funding Agency Regulators: FDIC, CESR, COREP Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc. Regulators: FDIC, CESR, COREP Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc.

    26. The world is getting smaller

    27. FDIC / FFIEC / OCC

    28. XBRL at FDIC

    29. FDIC / FFIEC / OCC

    30. FDIC / FFIEC / OCC

    31. FDIC / FFIEC / OCC

    32. Other Public Sector (US)

    33. Other Public Sector (US)

    34. CEBS & COREP

    35. CEBS & COREP

    36. CEBS & COREP

    37. Dutch National Taxonomy Project The Ministry of Justice and the Ministry of Finance in a joint effort intend to reduce the administrative burden of businesses by using XBRL to make the composing of reports and exchange of financial data easier. Focuses on three important reporting chains: Reporting of taxes; for instance profits tax, wage taxes, value added taxes (VAT) and Income taxes Reporting of annual accounts Reporting of economic statistics Projected Savings to Dutch Business: 350 million euro

    38. Agenda Let’s Imagine: Regulators: FDIC, CESR, COREP Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc. Regulators: FDIC, CESR, COREP Internal Reporting: NGO / Funding Agencies: World Bank, USAID, Etc.

    39. Agenda

    40. Agenda

    41. XBRL is here, who knows where it will go XBRL is to the printed annual report, what the internet is to the printed Yellow Pages.

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