Agenda xbrl international

Global Financial Reporting…. Advancing Data Sharing Architecture with…. Extensible Business Reporting Language (XBRL)

Agenda

• XBRL International

• Adoption

• Q & A

XBRL …. the World is getting smaller.

XBRL International Governance

Global Business Reporting Supply Chain

XBRL Usage and Impact on Stokeholds

What is so different about XBRL?

Taxonomy, Data & Instances

Taxonomy Reference Linkbase

XBRL in Europe Projects, users and…

National

• National

• UK Inland Revenue

• UK Financial Services Authority

• UK Companies House

• Datev/Bundesbank

• Danish Commerce & Companies (DCCA)

• Bank of Spain

• Bank of Belgium – Balance sheet office

• Belgian Banking supervisors

• Dutch Water Boards

• Dutch Statistics agency (CBS)

• Dutch government

• Pan-european

• XBRL in Europe – FP6

• ICISA (CRAS group)

• Eurostat (feasability study)

• IASB

• CEBS – COREP (Basel II)

SEC Pushes for “Interactive Data” for Consumers

• Cox wants more open information access vs. more rules

• If investors have the data the markets will self regulate
• Main purpose is to enable benchmarking

• XBRL filing of US financial results is encouraged but not required

• Only nine US companies file XBRL
• Europe is ahead

• SEC sees benefit for consumers

SEC - Ripe for Reform I

SEC - Ripe for Reform II

Sept. 25, 06 - Press Releases – “SEC to Rebuild public Disclosure System to make it “Interactive”

• Washington, D.C., Sept. 25, 2006 - U.S. Securities and Exchange Commission Chairman Christopher Cox announced today that the SEC has awarded three separate contracts totaling $54 million to transform the agency’s 1980s-vintage public company disclosure system from a form-based electronic filing cabinet to a dynamic real-time search tool with interactive capabilities.

- Press Releases – “XBRL US TO BECOME INDEPENDENT ORGANIZATION”

• NEW YORK (September 25, 2006) – The American Institute of Certified Public Accountants today announced that XBRL US will become an independent, not-for-profit organization.

• Initially formed as a volunteer committee of the AICPA, the new entity will continue as the chartered U.S. jurisdiction of XBRL International.

Corporate Value Proposition Integrate Internal and External Financial Data

But where are we in the life cycle?