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Reducing reporting burden on non financial
corporations Combining XBRL and IFRS in
European Central Balance Sheet Data Offices

• Manuel Ortega. Head of the Central Balance Sheet
  Data Office of Banco de España / III WG of the
  ECCBSO Chair / Strategy Committee of XBRL Spain
  Chair
• Josef Macdonald. IASC Foundation XBRL Practice
  Fellow / IFRS Taxonomy Working Group Chair / IASB
  IT Discussion Group Chair

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AGENDA

• Background
• ECCBSO and III WG
• Standard Formats
• ECCBSO/IASCF Joint XBRL Project
• Annex CBSO of Europe

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THE OPPORTUNITY TO COMBINE STANDARDS

• Corporations face the workload of external
  reporting
• Different demanders
• Tax authorities
• Mercantile registers
• Statistical units
• Commercial banks
• Shareholders
• University researches
• Local and central government
• Different levels of detail
• Different timing
• Different computer languages

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THE OBLIGATION FOR COMBINING STANDARDS IN EUROPE

• Brussels European Summit, 20th-23th March, 2003
• Reduction of reporting burden on companies
• Directive 2003/58/EC
• Elimination of paper before 2007
• Corporation data, subject to this Directive, to
  be presented/demanded in public registers
• Can be presented in electronic formats by
  companies
• Can be demanded in electronic formats by users

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THE NEED TO COMBINE STANDARDS

• XBRL, only for large listed corporations?
• NO also necessary for SMEs, millions of
  corporations affected in Europe

• Data available for Denmark, Finland, Italy,
  Luxemburg, Norway, Portugal, Spain, Sweden and
  United Kingdom.
• Data not available for United Kingdom
• Source Eurostat and European Securities Exchange
  Statistics

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WHY XBRL TAXONOMIES?

• Good for users, CBSO among others, that
• Profit from comparability
• Need to reduce costs and make access to data
  easier
• But also for companies, that
• Want to know their obligations
• Especially when an accounting change is coming

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AGENDA

• Background
• ECCBSO and III WG
• Standard Formats
• ECCBSO/IASCF Joint XBRL Project
• Annex CBSO in Europe

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EUROPEAN COMMITTEE OF CENTRAL BALANCE SHEET DATA
OFFICES (ECCBSO)

• Informal group of CBSOs belonging to NIS and NCB
• Experience using accounting data for several
  purposes
• Risk assessment
• Economic analysis
• Statistics
• Common tool corporation's annual accounts
• Different goals, different questionnaires
• 5 working groups Risk assessment, BACH database,
  ESD database, Study WG, IFRS impact and CBSO
  databases (III WG)

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III WG OF THE ECCBSO

• Targets
• Monitor and report to the ECCBSO on IFRS
  implementation process, new projects and its
  impacts on CBSO
• XBRL and CBSO
• Creation of an IFRS-based format and its taxonomy
  extension. Use of real examples

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AGENDA

• Background
• ECCBSO and III WG
• Standard Formats
• ECCBSO/IASCF Joint XBRL Project
• Annex CBSO in Europe

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IFRS-based standard format strategic plan

• Use of IFRS-GP XBRL taxonomy
• Monitoring with real examples (11 listed groups
  in 2005 over 200 in 2006)
• Creation of an extended version
• Definition of essential information, and
  creation of a common and reduced format
• Creation of a taxonomy work in collaboration
  with IASCF-XBRL Team
• Creation of instance documents from real cases
• Database with 200 European groups analysis

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Contents of the extended format (R) also in
reduced format

• General characteristics (R)
• Options IAS
• Business combinations (R)
• Consolidation (R)
• Employment (not required by any IFRS) (R)
• Balance sheet (R)
• Income statement (by function or by nature) (R)
• Statement of changes in equity (R)
• Cash-flow statement (direct, indirect or indirect
  alternative) (R)
• Notes

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There is a note for each of the following items

• Property, plant and equipment (R) Borrowings and
  payables
• Investment property (R) Borrowings movements
• Intangible assets (R) Income tax
• Biological assets Defined benefit
  post-employment plans
• Financial assets (R) Equity
• Current assets Related parties
• Provisions and grants (R) Segment reporting
• Hedging instruments and risk Assets held for sale

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ECCBSO Standard Format (B/S)
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ECCBSO Standard Format (I/C)
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AGENDA

• Background
• ECCBSO and III WG
• Standard Formats
• ECCBSO/IASCF Joint XBRL Project
• Annex CBSO in Europe

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XBRL SHOWCASE
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AGENDA

• Background
• ECCBSO and III WG
• Standard Formats
• ECCBSO/IASCF Joint XBRL Project
• Annex CBSO in Europe

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III WG CBSO of Austria

• Targets
• In-house credit risk assessment, collateral
  within Eurosystem
• Statistical analysis
• Information available
• 2,500 (individual and consolidated)
• XBRL plans
• Foreseeable use for COREP

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III WG CBSO of Belgium

• Targets
• Legal mission collect and process annual
  accounts of non-financial corporations
• Information available
• 275,000 100 coverage
• XBRL works and plans
• Filing annual accounts in 2007, with XBRL
  300,000 corporations involved
• Final version of Belgium taxonomy by end of 2005

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III WG CBSO of France

• Targets
• Macro and microeconomic analysis
• Banking supervision and individual diagnosis
• Risk assessment and portfolio analysis
• Information available
• Several databases CBSO (30,000), FIBEN
  (188,000), Consolidated database (3,500 groups)
• XBRL plans
• Coordination with banking supervision for new
  reporting documents (Capital Requirements, others)

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III WG CBSO of Germany

• Targets
• Risk assessment
• Statistical information
• Economic analysis
• Information available
• Several databases anonymous individual
  (105,000, 75 coverage), individual
  consolidated (25,000)
• XBRL works and plans
• Use of XBRL in data pool of Statistics Department
• Membership of banking supervision department in
  COREP

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III WG CBSO of Italy

• Targets
• Collection and reprocessing of financial
  statements
• Development of methods for corporate analysis
• Information available
• Several databases individual (45,000),
  consolidated (800 groups). 47 coverage
• XBRL plans
• Follow developments in Italy

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III WG CBSO of Portugal

• Targets
• Statistical information
• Economic analysis
• Information available
• Several databases annual (18,000 / 58 coverage)
  and quarterly (3,300 / 41 coverage)
• XBRL plans
• Follow developments in Portugal

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III WG CBSO of Spain

• Targets
• Statistical information
• Economic analysis
• Information available
• Several databases annual (8,500 / 35), annual
  from mercantile registers (450,000 / 12) and
  quarterly (1,000 / 15)
• XBRL works and plans
• Creation of taxonomy for CBSO
• Other, at Banco de España
• currently receiving data with XBRL from Appraisal
  companies and commercial banks
• COREP project / Anti laundering commission

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THANK YOU FOR YOUR ATTENTION
Manuel Ortega/Josef Macdonald