Information for Interested Jurisdictions Bob Cuthbertson Member of the XBRL International Steering Committee Chief Operating Officer Case. Ware IDEA Inc. Credit to Walter Hamscher for many of the slides in this presentation. J. Louis Matherne President, XBRL International Director – Business Assurance & Advisory Services, AICPA
XBRL Guiding Principles § Market drive model … win, win § Start Simple, be inclusive § § Broad supply chain participation Member support XBRL Members do not compete on framework Build structure and systems to support open community and parallel taxonomy development § Liaise with other XML efforts § Neutral third party facilitator § For long term success – XBRL International
Scope and role of XBRL Processes Business Operations XBRL Internal Financi al Reporti ng XBRL External Financia l Reportin g Investme nt, Lending, Regulatio n XBRL Financial Publishers and Data Aggregators Companies Participants Trading Partners Management Accountants Auditors Software Vendors Economic Policymaki ng Investors Regulators Central Banks
Scope and role of XBRL Processes Business Operations XBRL Participants Internal Financi al Reporti ng External Financia l Reportin g Investme nt, Lending, Regulatio n Economic Policymaki ng Collaboration is KEY!!! XBRL Financial Publishers and Data Aggregators Companies Trading Partners Management Accountants XBRL Auditors Software Vendors Investors Regulators Central Banks
XBRL International § Independent non-profit global consortium § Sponsors conferences and helps knowledge sharing § Manages (Royalty free) XBRL Intellectual Property § Helps to launch XBRL member “jurisdictions” IASB Canada Ireland United States United Kingdom Netherlands Spain Colombia Argentina Denmark Korea South Africa Japan China Germany Switzerland Brazil Sweden Singapore Australia New Zealand
International structure XBRL International USD 5 K EIP 25 K IE (Provisional) ICAI (Facilitator) DE (Jurisdiction ) … Russia (Not organised) USD max(25 K or 1/3 Dues) IDW (Facilitator) UK (Jurisdiction) ICAEW (Facilitator) JP, SG, Etc. JPY 200 K GBP 5 K, 10 K, or 15 K Accountancy Educational Trust (IE) EUR 5 K(? ) SAP Deutsche Bank PPA World E&Y Pw. C KPMG …
Board of Trustees Executive Committee International Steering Committee Chair Finance/Audit Committee At Large ISC Representatives 1 st 3 rd 2 nd Jurisdictions AU DE IASB* NL NZ UK US Basel II Credit Risk Assessment Domain General Ledger Marketing & Comm. * Standing Research & Grants Provisional Korea Members JP CA Spain International Working Groups 1 st Vice Chair Sitting Members Nominating Committee XBRL Management President Operations Manager 4 th Supply Chain Communities 2 nd VC Accounting Intermediaries Software & Services Regulators Analyst Investor/Creditor Specification Ireland Academic Taxation Preparer, Public Exchanges Preparer, Private
XBRL International Governance & Operational Structure Supply Chain Community (SCC) represents a functional area in, or supporting, the business reporting process. It facilitates international activities, collaboration and sharing expertise across borders. Supply Chain Communities 2 nd VC Preparer, Private Sector Accounting Supply Chain Community members Intermediaries Software & Services • Members of an established Jurisdiction • Individuals who participate in the working party of a Provisional Jurisdiction Investors/Creditors Analyst Regulators Academic Preparers, Public Sector
Illustrative Jurisdictional Structure XBRL Int. Steering Committee XBRL J Steering Committee Domain Adoption Working Group
Illustrative Jurisdictional Structure XBRL Int. Steering Committee XBRL J Steering Committee • • Set strategy & priorities for Jurisdiction Oversee J. working group activities Oversees J. Budget and Finances Set J. policies Outline Expected Commitments from Members Oversight of J. Portion of XBRL Website Identify issues to be raised to XBRL Int.
National Jurisdictions § Functions best done locally § Operate in their native language § Responsible for own taxonomies § Lobby their government agencies for adoption § Functions best leveraging the whole international organization § § Cross-company, cross-border knowledge sharing Common intellectual property protection Conference co-ordination Relationships with multinational member companies
Benefits § Provisional Jurisdiction § Protection of XBRL trademarks, domain names § Facilitator staff § XBRL e-mail and archives § Participation in XBRL International working groups § Eligible to host International Conference § Eligible to submit “Approved” Taxonomy to ISC § Full Jurisdiction § Voting Representation on Steering Committee § Member company § Voting participation on Supply Chain Communities § Voting participation on Working Groups § Resident company staff § Discounted attendance at hosted conferences § All member company staff § XBRL e-mail and archives
States of a Taxonomy… from XBRL International point of view § Unrecognised § Acknowledged § Syntactically valid XBRL – nothing more § Noted on XBRL. org web site § Approved § Means it follows XBRL taxonomy best practices with respect to modularity, naming, relationships § Advertised on XBRL. org web site, etc. § Recommended § Means it is the only XBRL taxonomy approved for a given type of reporting. § Actively promoted in outreach activities
Benefits of Corporate Membership § Early Access to Information § Technical § Marketing § Influence on XBRL Evolution § Technology directions § (Often incorporating jurisdiction specific issues) § Industry focus § (Also varies in importance by jurisdiction) § Community and knowledge sharing § What you get out depends on what you put in § What’s not written down is sometimes of most value
Next Steps § § § Launch a provisional jurisdiction Do a membership drive for full jurisdiction Apply for a grant (re-use existing XBRL material) Host symposia on specific application topics Send people to next XBRL Conference Plan to host a conference
Information for Interested Jurisdictions Bob Cuthbertson Member of the XBRL International Steering Committee Chief Operating Officer Case. Ware IDEA Inc. Credit to Walter Hamscher for many of the slides in this presentation. J. Louis Matherne President, XBRL International Director – Business Assurance & Advisory Services, AICPA
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