International Financial Reporting Standards The IFRS Taxonomy Today

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International Financial Reporting Standards The IFRS Taxonomy Today and tomorrow XIV European Banking Supervisors XBRL Workshop - 30 March 2011 Olivier Servais – Director, XBRL Activities The views expressed in this presentation are those of the presenter, not necessarily those of the IASB or IFRS Foundation. © 2010 IFRS Foundation. 30 Cannon Street | London EC 4 M 6 XH | UK. www. ifrs. org

International Financial Reporting Standards The IFRS Taxonomy today The views expressed in this presentation are those of the presenter, not necessarily those of the IASB or IFRS Foundation © 2010 IFRS Foundation. 30 Cannon Street | London EC 4 M 6 XH | UK. www. ifrs. org

IFRS Taxonomy content model Sources 4 IFRS Taxonomy Company concepts Local/regulatory concepts Common practice concepts B A © 2010 IFRS Foundation. 30 Cannon Street | London EC 4 M 6 XH | UK. www. ifrs. org Guidance and example concepts Core disclosure requirements concepts

IFRS Taxonomy 2011 • All steps of the due process have been followed • XQRT review between 18 Dec and 11 Jan : about 250 comments impacting 950 items • ED released on 18 Jan for 60 days: about 30 comments impacting 250 items • The final version has been released on 25 th March • Compared to 2010, the IFRS Taxonomy 2011 is impacted mainly by: • changes in IFRS (the addition of new items for new IFRSs and the deprecation of redundant standards); and • the addition of new items to include IFRS application and implementation guidance, basis for conclusions and illustrative examples (i. e. part B of the Bound Volume) in the taxonomy. © 2010 IFRS Foundation. 30 Cannon Street | London EC 4 M 6 XH | UK. www. ifrs. org 5

IFRS Taxonomy 2011 6 Final 2011 taxonomy Number of taxonomy items ED 2011 taxonomy Final 2010 taxonomy Total 2, 547 2, 331 2, 027 All IFRSs excluding the IFRS for SMEs (1) 2, 427 2, 217 1, 936 IFRS for SMEs (2) 1, 128 1, 075 1, 026 1, 008 961 935 120 114 91 1, 419 1, 256 1, 001 Items in both the IFRSs and the IFRS for SMEs (3) Items specific to the IFRS for SMEs (=2 -3) Items specific to all IFRSs excluding the IFRS for SMEs (=13) © 2010 IFRS Foundation. 30 Cannon Street | London EC 4 M 6 XH | UK. www. ifrs. org

International Financial Reporting Standards Challenges and opportunities The views expressed in this presentation are those of the presenter, not necessarily those of the IASB or IFRS Foundation © 2010 IFRS Foundation. 30 Cannon Street | London EC 4 M 6 XH | UK. www. ifrs. org

Challenges for tomorrow 8 • Ongoing maintenance of the IFRS Taxonomy; consistency with the IFRSs • Promoting implementation of the IFRS Taxonomy around the world that is consistent with established architecture • Ongoing delivery of translations of the IFRS Taxonomy to support international stakeholders • Ongoing development of ITA initiative and promoting technical convergence within all IFRS Taxonomy-related projects • Engaging with stakeholders; maintaining support and contributions from external experts, including XAC and XQRT • Confirmation of the adoption of the IFRS Taxonomy by US SEC © 2010 IFRS Foundation. 30 Cannon Street | London EC 4 M 6 XH | UK. www. ifrs. org

Opportunities for tomorrow 9 • Broader scope for the IFRS Taxonomy – taxonomy items to reflect common-practice and industry-specific needs – Non-financial reporting items, ie management commentary, sustainability… in the context of integrated reporting • Audit and assurance of XBRL filings, with the IFRS Taxonomy as core component • A continuous taxonomy (permanent update) consistent with the IFRSs © 2010 IFRS Foundation. 30 Cannon Street | London EC 4 M 6 XH | UK. www. ifrs. org

The Integrated Reporting framework Integrated Reporting Non-Financial Reporting (IFRS, US GAAP, MIX…) Sustainability Reporting Management Reporting (environment, nature, CO 2, climate, energy, Emission Trading Schemes) (MD&A, management commentary, governance) Social Reporting (human rights, labour practices) Other nonfinancial reporting Standards: UN, OECD, ISO, A 4 S, GRI, CDP, EBRC… XBRL taxonomies IFRS US GAAP GRI CDP 10

Call for Detailed Tagging Task Force 11 • Objective: get a better understanding of market requirements by working closely with companies to produce fully-tagged financial statements using the IFRS Taxonomy • Participants: Preparers of financial statements for listed companies who report in IFRS, operating in all industries and geographical regions • Time line: application by 10 April 2011, first meeting on 18 April, production by September • Process: Participating companies will: – Examine major sections within financial statements and the corresponding parts of the IFRS Taxonomy – Apply IFRS Taxonomy tags to financial statement note disclosures – Generate an XBRL file using their preferred software. • Benefits for participating companies: interaction with IFRS Foundation XBRL team, share and learn from the filings and from the experiences of other participants © 2010 IFRS Foundation. 30 Cannon Street | London EC 4 M 6 XH | UK. www. ifrs. org