XBRL en el ámbito internacional
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  • 1. XBRL y el entorno internacional Ignacio Boixo Relaciones internacionales, XBRL España OPORTUNIDADES DE NEGOCIO EN EL AMBITO DE LA TRANSMISIÓN DE LAINFORMACIÓN FINANCIERA PARA EMPRESAS DESARROLLADORAS DE SOFTWARE Red.es 10 Noviembre 2011
  • 2. Cell code vs. Dimensions PrimaryItem: Assets Category of assets: Debt securities Counterparty sector: Monetary Financial Institutions Original maturity: ≥ 1 year < 2 year Counterparty residence: Spain Instrument original currency: EUR Location of activity: Spain Amount type: Outstanding 2
  • 3. Data centric approach reporting entity Data exchange format: Data Model XBRL taxonomy Datarequirements + concepts ? definitions supervisor data analysis and audit 3
  • 4. Data Modeler: ExcelXbrlGenExcel add-in Open Source available at www.openfiling.info tools 4
  • 5. Dimensional Reconciliation ECB StatisticsFINREP FINREP Comprehensive income Loan type rev 2 Fair value level Controlling/ Amount interval Non-controlling Transfer Market Minimum Portfolio … reserve Main categories Amount type Currency Collateral Risk type Percentage Geographical Intervals Sector Impairment areas Entity code Time intervals Approach Exposure type Securitization type … COREP Ochocki, B. et al. (2011) 5
  • 6. Dimensional Reconciliation extensibility ECB Statistics FINREP FINREP Comprehensive income Transfer rev 2 Fair value level Controling/ Amount interval Non-controlling Market Loan type Minimum reserve … Main categories Amount type Portfolio Currency Collateral Risk type Percentage Geographical Intervals Sector Impairment areas Entity code Time intervals Exposure typeLine of business Approach/Model SecuritizationType of business used type … DiversificationType of contract COREPChange in basic own funds Type of claim … SOLVENCY II Ochocki, B. et al. (2011) 6
  • 7. Queries SELECT SUM(factValue) FROM allFacts WHERE item=″assets″ AND portfolio=″held-for-trading″ AND category=″derivatives″ AND amount=″notional″ AND ctResidence=″uk″ AND ctSector=″credit institutions″ ANDassets by counterparty residence originalCurrency=″eur″ AND riskType=″commodity″ AND market=″OTC″ AND … 24.320.223,54 7
  • 8. EuroFiling Collaborative Framework Int’l Decisions Advice NSAs Membership Jurisdictions….. 8 ….. 8
  • 9. EU + XBRLEU + ? 9
  • 10. XBRL/IFRS en ámbito internacional 10
  • 11. Factores de la brecha digital E-comercio + + Inversión extranjera PNB total y per + + % I+D capita - - Ampliación EU2011-09-08 Implementing an Harmonized Banking Supervision in Europe: the Way Forward 2004-2013 11
  • 12. Modelo de implementación Institution Consultants National implementation XBRL Institution REGULADORES Vendors (National) Consultants Vendors XBRL Europe (Europe) Internet Bank operations, Presentation, controls…. Analysis… Errors ErrorsBank Supervisor INDUSTRIA to XBRL from XBRLIT Banking IT Supervision Operations Reports Basel II Basel II Counterparties Other data IFRS IFRS Collateral … … Instance Instance ---------------- … ---------------- ---------------- ---------------- ---- ---- File Transfer (National) Didactic model for explanatory purposes only 12
  • 13. Retos tecnológicos Degree of dimensionality (EU-issue) Degree of extension (US-IFRS issue) • Role (schedule) identification • Concept identification (or misuse) Formula support (IFRS next year) Versioning support (IFRS and SBR) Table LB support (EU next year) • No more presentation linkbase Model-centric taxonomy design (EU now) • versus Form-centric taxonomy design 13
  • 14. Buy now, suffer later Need to maintain for a very long time Need products up to date for long future • XML changes (or fixes bugs) steadily • XBRL changes (or fixes bugs) steadily • Annual regulatory, taxonomy & validation changes Life beyond corporate transitions and changes • Maintenance independent of owner changes Life beyond key personnel changes • Complexity impact on future maintainability • Is Academia involved Life beyond platform changes (server, desktop) 14
  • 15. Descargas Código AbiertoProduct Category Date CountRivet Dragon View Viewer (txmy & inst) 2008-07 66UBMatrix XPE 2.5 XBRL Processor (old, pre-XDT) 2007-01 50Java XBRL API XBRL Processor 2011-06 45CodeXBRL (.Net & Java) GL Processor 2009-06 27Rivet Dragon Tag SEC filing creator 2008-07 25API Lenloc/Penloc Instances in Lenloc 2010 2011-06 24Data Modeler Taxonomy creator 2011-07 18Taxonomy Generator Taxonomy creator 2005-06 12Batavia XBRL Library XBRL Processor 2007-10 11IFRS Modules Mgr Browse and combine mduls 2009-04 11Inline XBRL extractor Inline to XBRL instance 2010-05 10XBRL Core Java to edit XBRL 2007-01 6XBRL Composer DTS compilation 2005-04 2API Taxonomia Library 2011-07 1 15
  • 16. 2011: Common dimensions for Solvency, Financial, Statistics2012: New Solvency and Financial XBRL taxonomies2013: European harmonized framework go live! 16
  • 17. Gracias por su atención ¿Preguntas? ignacio@boixo.com www.eurofiling.info