IADI 12th EARC AM and International Conference in Kyiv IT TECHNOLOGIES FOR CRISIS MANAGEMENT OF BANK RESOLUTION

1. 12th EARC AM
International Conference
April 25-26, Kyiv, Ukraine
Presentation Title:
XBRL – A Common Language for Data Reporting
Presented By:
Liv A. Watson
Sr. Director of Strategic Customer Initiatives
Workiva, Inc [NYSE: WK]

3. XBRL History!

4. Today's Agenda
XBRL for Dummies
Around the World with XBRL
RegTech Innovation with XBRL
Key Takeaway

6. The HBR List: Breakthrough Ideas for 2007
What Problem is XBRL Trying to Solve?
"XBRL will make it dramatically easier to
generate, validate, aggregate, and analyze
business and financial information—which in
turn will improve the quality of the
information companies use to make
decisions".

7. Who Uses XBRL?
Financial Regulators
Financial market regulators that need
significant amounts of complex performance
and risk information about the institutions
that they regulate.
Business Registrars
Business Registrars that need to receive and
make publicly available a range of corporate
data about private and public companies,
including annual financial statements.
Securities Regulators
&
Stock Exchanges
Securities regulators and stock exchanges
that need to analyze the performance and
compliance of listed companies and
securities, and need to ensure that this
information is available to markets to
consume and analyze.
Companies
Companies that need to provide information to
one or more of the regulators mentioned
Governments
Government agencies that are
simplifying the process of businesses
reporting to government and
reducing red tape, by either
harmonizing data definitions or
consolidating reporting obligations
(or both).
Data Providers
Specialist data providers that use performance and risk
information published into the market place and create
comparisons, ratings and other value-added information
products for other market participants.
Analysts and Investors
Analysts that need to understand relative
risk and performance. Investors that need to
compare potential investments and
understand the underlying performance of
existing investments.
Accountants
Accountants use XBRL in support of clients
reporting requirements and are often involved in
the preparation of XBRL reports.

8. XBRL Specification
Provides the fundamental technical
definition of how XBRL works.
XBRL Taxonomy
Taxonomies are dictionaries of business
terms and their corresponding tags—for
example, the IFRS Taxonomy.
Inline XBRL or iXBRL specification
The Inline XBRL or iXBRL specification
provides a mechanism for embedding
XBRL tags in XHTML documents.
How XBRL Work Together?

9. SAMPLE

10. SEC Committed to Human-and-Machine-Readable Format

11. Machine Readable and Human Readable Quality Data

12. About XBRL International

13. Compelling Reasons to Consider XBRL
Making financial and business information exchange better, faster, and cheaper
Making financial reporting more transparent and discoverable
Explicitly articulating business meaning and thus enabling the exchange of that
meaning between humans or between business systems
Improving data integrity
Integrating business systems
Saving government agencies money and making them more efficient

14. Key Take Away
XBRL is a freely available electronic language for financial and business reporting.
XBRL provides an XML-based framework that the global business information supply chain can use
to create, exchange, and analyze business reporting information including, but not limited to,
regulatory filings such as annual and quarterly financial statements, general ledger information, and
audit schedules.
XBRL is not about establishing new accounting and reporting standards but enhancing the usability
of the ones that we have through the digital transformation of business reporting.
XBRL will not require additional disclosure from companies to outside audiences.

15. Around the World with XBRL

16. Project:
The Integrated
Reporting Framework
(IReF) and the Banks’
Integrated Reporting
Dictionary (BIRD)

17. Source: http://www.xbrleurope.org/wp-content/uploads/2019/02/2.-22ndXBRLEuropeDayRome2019-02-08-IReF-and-BIRD-.pdf

18. XBRL at ESMA

19. Decreased total cost of ownership:
• The FDIC reduced the total cost of ownership of their system from $65 million to $39 million, a
savings of $26 million.
Greater timeliness of information:
• The FDIC reduced the time it took to make information available from 45 days to 2 days.
Higher quality of information:
• Contributing to the reduction of mathematical errors from 18,000 to 0 in the very first filing
period XBRL was used
• Reduced the number of analysts needed to detect and correct mathematical errors by 33
percent because the analysts did not have to call banks and ask them to correct this type of
error in their submissions
XBRL at the U.S. FDIC

20. XBRL and Non-Financial Data

21. SDGs AND XBRL

22. XBRL at the Mumbai Stock Exchange

23. XBRL and SBR

24. RegTech
Innovation
with XBRL

25. Reporting in Need of a Digital Transformation

26. Reporting in Need of a Digital Transformation

27. Reimagine Data Architecture

28. Reimagine Data Architecture

29. Reimagine Data in the Cloud

30. Compliance in Need of a Digital Transformation

31. The Moment of Data Creation
Key Take Away
The Moment of Data Use
For Data, Only Two Moments Really Matter
The Whole Point of Data
Quality Management is
to connect the two.

32. Presenter
Honors-Awards
IMA Global Distinguished Member Award - 2016
Lybrand Silver Medal for article titled
" Possible Second-Wave Benefits of
XBRL"
Certificate of Merit Awarded by IMA
- Article "XBRL it Can Improve
Today's Business Environment
Eurofiling Hall of Fame - Recognition
to Outstanding Contributors
Lybrand Certificate of Merit for article
titled "XBRL AND THE CLOUD"
Liv Watson
Sr. Director of Strategic Customer Initiatives
Workiva Inc. (NYSE: WK)
Liv A. Watson is a Senior Director of Strategic Customer Initiatives at
Workiva Inc. (NYSE:WK). Watson recently served as Chair of the Institute
of Management Accountants (IMA) Technology Trends Subcommittee,
member of the Institute of Chartered Accountants in England and Wales
(ICAEW) Sustainability Committee, member of the Global Reporting
Initiative (GRI) Technology consortium, and an active member of the XBRL
International Funding Task Force.
Watson authored one of the IMA's most successful CPE courses,
Accounting System Technology for the 21st Century. She has published
numerous articles for international publications and journals, including
Harvard Business Review and Strategic Finance. She has also written a
monthly column on financial and business reporting trends for
CPA2Biz.com. Watson is the co-author and contributing author to several
books, including XBRL for Dummies as well as Governance, Risk, and
Compliance Handbook published by Wiley. She is also a contributing
author of the Harvard Business School’s first e-books titled, The Landscape
of Integrated Reporting, and Effective Auditing for Corporations published
by Bloomsbury.