XBRL for regulatory reporting in Belgium Update on the CBSO latest developments and related projects Camille Dümm Central Balance Sheet Office (CBSO)
Agenda 4 Context 4 CBSO Project - Objectives and timing 4 CBSO Project - Taxonomy 4 CBSO Project - Processes 4 Related projects
The CBSO at a glance § Legal context: § Gathering and individual spreading of annual accounts § Drawing up statistics based on data contained in annual accounts
The CBSO at a glance § In practice: § The Central Balance Sheet Office collects 320. 000 annual accounts from 295. 000 non financial companies § 85% of them are already in electronic format (text file) § Transition to IAS/IFRS to foresee: § For consolidated accounts of quoted companies: 160 companies concerned § For statutory accounts
The CBSO at a glance ü 1993 Introducing filing of annual accounts on floppy disk (text file) - Mandatory structure for those who choose electronic filing ü 2000 Spreading on microfilm abandoned in favor of images-CD (PDF file) ü 2002 Supplying copies of filed annual accounts through the Internet ü 2004 Filing annual accounts through the Internet
The CBSO at a glance
Current processing of annual accounts Electronic Output Data loading Validation PDF file Text file Quality Check Paper Images database Internet Images CD Image CD Paper Scanning Data entry Accounting data Figures Statistics Studies
Agenda 4 Context 4 CBSO Project - Objectives and timing 4 CBSO Project - Taxonomy 4 CBSO Project - Processes 4 Related projects
The CBSO Project - Why XBRL § Purposes of the XBRL project § Introduce flexibility in the process § Make the maintenance easier § Harmonization of the data format and exchange with other regulators § Prepare the electronic filing of annual accounts drawn up according to IAS/IFRS
CBSO Project - Stages 03/2005 Draft Taxonomy presentation to the members of the Belgian jurisdiction 09/2005 Feedback analysis and new taxonomy architecture 01/2006 Official publication of the Taxonomy be-fr-pfs-ci 2006 -01 -01 on the website Adaptation of the internal process (data entry via Internet, validation, rendering) 2006 04/2007 The proprietary standard currently used by NBB will be replaced by XBRL
Agenda 4 Context 4 CBSO Project - Objectives and timing 4 CBSO Project - Taxonomy 4 CBSO Project - Processes 4 Related projects
CBSO Project - Taxonomy description § be-fr-pfs-ci-2006 -01 -01 § § According to Belgian GAAP Financial Reporting Primary Financial Statements Commercial and Industry § Technical assumptions § Compliant spec 2. 1 and FRTA § Multilingual § Modular structure
CBSO Project - Taxonomy architecture
CBSO Project - Website http: //www. xbrl. be
CBSO Project - Available information § All taxonomy files § Instance documents § Use cases § Empty instance documents according to the format (full or abbreviated) § A Decision. Soft viewer allowing to visualise the taxonomy in a user-friendly way
CBSO Project - Available information § The new template for the filing of annual accounts § The PDF file § A reference manual explaining the differences in the new layout § A technical protocol § Containing the constraints and requirements which cannot be integrated in the taxonomy
Agenda 4 Context 4 CBSO Project - Objectives and timing 4 CBSO Project - Taxonomy 4 CBSO Project - Processes 4 Related projects
CBSO Project - Process PDF Software package (private) Instance document Taxonomy Data Entry CBSO Upload Validator XBRL files Database
CBSO Project - Modules § Publication according to the legal mission § Template published by the NBB based on elements clearly defined in the law § Data processed in order to draw up statistics § Data must be validated through arithmetical and logical checks § The CBSO has developed a software used to input the data of annual accounts as alternative to private software § The output is a file compliant with the legal requirements
CBSO Project - Modules § Rendering § PDF files as output § Restrictive layout of the annual accounts § Use of metadata and pre-coded forms § Objectives § to insert most of the rendering parameters in the taxonomy instead of managing them outside, § to allow multilingualism § to reduce processing time when there is a new taxonomy version.
Rendering structure Taxonomy linkbases be-fr-pfs-ci-2006 -01 -01 -presentation. xml be-fr-pfs-ci-2006 -01 -01 -reference. xml be-fr-pfs-ci-2006 -01 -01 -label. xml Instance Document Company. xml 1 XSL 1 Transformation XSL Transformation 1 XSL Transformation 2* . . . /out/presentation. xml. . . /out/reference. xml. . . /out/label. xml Presentation. Instructions. xml XSL Transformation To execute at each taxonomy version 3 To produce a PDF file XSL Transformation Transformed. Company. xml * one file per form and per language 4 XSL-FO Company. pdf
CBSO Project - Modules § Validation of instance documents § XML validation (well formed document) § XBRL validation (according to the taxonomy) § CBSO validation (supplementary protocol) § "In-house" developments § Too many specific checks § Waiting for "Formula" linkbase § To be integrated in a whole process
CBSO Project - Modules § "Data entry" application - SOFISTA-XBRL § § Web application Manual entry or upload Validation included Visualisation § "In house" developments § Based on the taxonomy for "standard" sections § Based on metadata for "specific" sections § Principles reused for Rendering module
Agenda 4 Context 4 CBSO Project - Objectives and timing 4 CBSO Project - Taxonomy 4 CBSO Project - Processes 4 Related projects
Related projects § Federal Public Service Economy § Directorate-general Statistics and Economic Information § Federal Public Service Finance § Annual accounts as annex of tax declaration
Directorate-general Statistics and Economic Information § Context: § Since 1996, the DSEI (former NIS) collects annually detailed data from companies about activity, employment, investments, based on the annual accounts § As from 2007, XBRL will be used to fill in the annual survey about companies' structure § Objectives: § To promote electronical reporting § To reduce the administrative burden for companies
Directorate-general Statistics and Economic Information § Methodology: § Development of a specific taxonomy based on the NBB taxonomy § Result: § "On line" application
Contacts § National Bank of Belgium Central Balance Sheet Office Helpdesk. ba@nbb. be § Directorate-general Statistics and Economic Information http: //statbel. fgov. be/home_en. asp
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