Minutes February 23, 2017

F2F meeting in Amsterdam (see minutes)
Well attended.
Several topics were discussed:
consolidation scopes and the challenges which are caused by them,
instance generator, taxonomy generator
XBRL certification is considered counter-productive by Working Group members
Note. in the slides shared afterwards via the googlegroup mail, the “s. datapoints” (i.e.with double meaning, on slide 6) were renamed to “Musical Chair Datapoints”

EBA news
In April 2017 EBA is expected to release the taxonomy 2.7.
A known issue with some data points in 2.6 (tables C09.04) may trigger a corrective release, but it’s highly unlikely with the info we have today.
Discussion on additional validations which are today triggered by ECB and NCA’s.
EBA will include some of them in future taxonomies.

ECB news
FINREP Datapoints taxonomy will be published by ECB. Let’s monitor when that happens.
The Working Group would be delighted if the ECB owner of this taxonomy could join the monthly call.

EIOPA news
Nothing new since the last call.
The Working Group considers it would be nice if the Filing Rules were the same between EIOPA and EBA.
A Working Group member mentions that the Ad Hoc entry point is only used in Italy

XEU news  
- a permanent academic working group has been founded within XEU, with academic researchers in the lead. More info with XEU, call for volunteers to join the initiative.
- new strategy and new bylaws in XEU to be more inclusive towards countries with or without XBRL jurisdictions.

XII’s LEI validation taxonomy
Call for feedback onto XII’s LEI Taxonomy initiative before the public release.
The taxonomy package and a sample test instance can be found here:

https://xbrl.box.com/s/2b40241vtenibisxnfazxynvbq7tk1av

Upcoming events
XBRL Week: 6-7-8-9 June, 2017 :
6 Tutorials, working groups, …
7 XEU day, Academic Track, Networking Dinner
8 Eurofiling Workshop and Academic Track
9 Working groups etc.

call for speakers will follow in March
Next conf call: March 30, 2017

*** thank You for participating – people make the difference ***

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Minutes, February 15, 2017 Amsterdam F2F

  • Points of attentions
    • 6 months is not enough to introduce new XBRL specifications in taxonomy after their ratification
    • EBA has introduced new labels for its filing rules : EIOPA should use labels too, and these labels must be the same than EBA’s ones
  • Sub-consolidation groups
    • Concerns about the way the data can be visualized with option 4
    • Option 1/2/3 would change the key identifier of an instance (entrypoint/lei/reference date)
    • Sub-consolidation could be achieved with a defined aggregation
    • No ideal proposition, maybe a mixed solution.
  • Use of Instance Generator
    • The WG members are enthusiastic to use it
    • UK taxonomy already asks this information in the form of a fact
    • An attribute ‘@settings’ could be added. Some providers have a lot of ways to generate instances
    • The filing rule is a ‘should’. Some members showed concerns about the fact that some countries interpret a ‘should’ as a ‘must’, and ask for only ‘must’ rules.
  • Provider certification by XBRL International
    • Members didn’t show enthusiasm for this subject
      • XBRL is an open standard, incompatible with certification
      • Software provider could fail certification for personal/technical choices
      • Certification could take long
      • Who, how, with which cost?
      • Nevertheless, it could bring attention on XBRL
  • Ideas
    • Create a processing instruction ‘taxonomy-generator’ for taxonomies on the model of the ‘instance-generator’
    • Encourage collaboration of the various entities defining their own filing rules, specifications
    • Encourage dialogue between software providers about encountered problems
    • Feedback on supervisory consultations
      • Software providers are sometimes disappointed by the return given to them by authorities, they feel like their opinion is not taken into account
      • Supervisory WorkingGroup/Eurofiling could be a good channel to express concerns and speak about problems found by members to the authorities
    • Taxonomy generators could be invited to our meetings
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Minutes, January 26 2017

EBA news

EBA 2.6 was published with the following relevant features:
° Table linkbase update (2014) and
° Extensible enumerations: the data type of the existing ei-elements were switched
° 2.6 is a complete standalone (where 2.5.1 was interlinking between versions)
° Functional changes in tables are only related to SBP
° There should be no table or definition differences in all the others.
° validation rules have been revised in general
° 3 rules use the severity spec for warnings

Note: if there would somewhere be a business reference to DPM 2.6.0.1, this should be interpreted for the time being as 2.6.0 until further notice.

EBA 2.7 Exposure Draft has been released for review by stakeholder (link)
Call for volunteers to examine this version!
It’s EBA’s intention to finish taxonomie 2.7 around April

EIOPA news
° Taxonomy 2.1.0 is live and being implemented in Europe
° EIOPA will not release a corrective release 2.1.1, therefore the next version will be the 2.2.0 by 15 July 2017
° there are a few issues which are related to TV0 (check between the content template and filing indicators), which will probably need to be deactivated. More news will follow via EIOPA site in the second half of February.
° ad hoc entry point: after analysis is seems that this is not used in practice.
° on the other hand, there are some specific cases where a different combination of tables is required (for example resubmission of template S.30 and empty reports), EIOPA is analysing the options and will publish how to report it for 2.0.1 and 2.1.0 taxonomies, probably using regular entry points and not the ad-hoc entry point

ECB
° FINREP data points taxo will have 12 tables, is being finalised as an extension on EBA 2.6 (3 entry points con_gaap, ind_gaap, ind_ifrs). These 12 tables are cut-down tables on existing tables.

Initiative about questionnaire (Vincent)

XEU day: 16.02.2017, Amsterdam
XBRL Week: 6-9 June, 2017, ECB premises, Frankfurt

Next conf call: February 23, 2017

 

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Minutes, November 24, 2016

EIOPA update

- license will be soon updated to 1.3, will be more relaxed in favour of the taxo user
- schedule will be updated in the first week of December
- 2.1.0 will probably not need a corrective version probably, so no 2.1.1 planned
- probably an update on list of issues and validation list will follow
- adaptive release 2.2.0 will be made in spring 2017:
° bus rules and some changes on templates
° scheduled to be published in July with usual consultation round
- more info on 2.2.0 in a next conf call
- T4U will no longer be supported after June 2017, the tool is equipped with as final version 2.1.0

EBA update
- 2.6 is probably released to the public in the next few weeks. It’s making use of the extensible enumations spec
- 2.7 some new technicalities are being discussed internally at EBA. It will be impacted by IFRS9.

ECB
- an XEU working group is dedicated to Anacredit with on its wishlist proposing a EU standard
- at this moment nobody is using XBRL for this reporting, but experiments are ongoing with variants from the OIM

Feedback from Singapore
- 250 attendants, of which may known EU-faces, but mainly Asian attendants
- interesting sessions, also on blockchain and artificial intelligence
- regulators were sharing their experience, in general everything is going well, happy with the choice for XBRL.
Alessandro Bonara from ECB was there also sharing statistical info on the ECB implementation

Feedback from XII, standards board:
updating ext.enum spec (in the next weeks) to acommodate lists of items
update to table linkbase spec, more relevant for Asian taxonomies – minor changes
update to OIM, working draft on JSON spec and representation in a CSV-like format
update to formula spec to work with eg. subsets, also update in the formula syntax (‘easier to read, easier to write’)

Feedback from xbrl.es’ successfull conference, November 17:
110 registrations, speeches from XEU Chairman B. Tesniere, ECB F. Laurent
presentation available on xbrl.es

Upcoming events:
XBRL France conference 05.12.2016
XEU day: 17.02.2017, Amsterdam
XBRL Week 2017: 5-6-7 June, 2017, Frankfurt. will have an academic track, if enough papers are available. Centralize the contacts via Ignacio Boixo

Next conf call: January 26, 2017

MERRY X-MAS and HAPPY NEW YEAR !

sneeuwlandschapje

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Minutes October 27, 2016

EBA

2.6 and 2.7 feedback from meeting about draft taxonomies

2.6 spilling assertions and variables related to grey cells are being fixed
new features: upgrade to new table linkbase spec and severity spec and warnings
a warning does not mean that there is not a problem, but the instance is not rejected and may have to be fixed anyway afterwards.

The accommodation of different levels of consolidation are being studied :
1° add dimension members, or start using the segment element
2° include conso info in the entity identifier value (which is the simpliest way)
3° use element in taxonomy to represent consolidation information
WG SUB level should take the lead so that the technical solution can be elaborated.

Discussions are ongoing to change more frequently the assertions. Solutions are being studied. Difficulty : changing taxonomy files means updating systems everywhere.
The group agrees that the approach would be best aligned between EBA and EIOPA.

Question on the processing of filing indicators with attribute “filed=false” in EBA filings.
Different NSA’s have different views on filing indicators, which is explained in EBA EFR 1.6

Example of Luxemburg’s view on filing indicators:

https://www.cssf.lu/fileadmin/files/Reporting_legal/Recueil_banques/Identification_rep_requirements_checks_2nd_level_completeness_031016.xlsx

Central EBA page with taxonomies:

http://www.eba.europa.eu/regulation-and-policy/supervisory-reporting/implementing-technical-standard-on-supervisory-reporting-data-point-model-

EIOPA 2.1.0
no news

ECB – AnaCredit
no news

ESMA
no news

XBRL Int’l group on LEI with GLEIF.

Next meetings: XBRL FR has meeting on December 5, Singapore conference

Next call 24.11

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Minutes September 29, 2016

Group discussion on timelines of EBA, EIOPA taxonomies.

Feedback from XEU working group on AnaCredit, which has elaborated and discussed with ECB stakeholders a proof-of-concept taxonomy for AnaCredit.

 

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Minutes August 25, 2016

The group has been discussing the current status of the EBA and EIOPA taxonomies. Some issues have been detected and reported.

1) EIOPA: the announced hotfix taxonomy is not yet available at this date

2) EBA SBP for 2016:
- collection of SBP_IMV data is with taxonomy 2.4
- collection of SBP data is with taxonomy 2.5

3) ESMA closed the XBRL expert hiring procedure last week.

4) ECB: Anacredit is being studied in the task force which has been set up in XEU

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Minutes July 28, 2016

1. Feed-back from the XBRL Week in Frankfurt (1st and 2Nd June 2016)

This event had a large audience (50 sessions with ~200 participants from 30 countries). Presentations here

Some important messages were :

  • The need for convergence of financial reportings in Europe – see project FDS (Financial Data Standardization), in the context of REFIT (REGulatory FITness).
  • A new type of individual data reporting ANACREDIT, for the time being not using XBRL.
  • The efforts to enhance data quality.
  • The introduction of best practices, for example, a taxonomy lifecycle in EIOPA (Governance of Taxonomy Releases and Schedule 2016).

2. EIOPA taxonomies

Version V2.1.0 of the Solvency II taxonomy was published on 15th July (after meeting: a hot-fix version allowing a data that was erroneously forbidden will be published soon).

A licence has been introduced with taxonomy version 2.1.0. This licence seems to transfer the IPR of any organization developing an extension to EIOPA, which provides then limited rights to the extension developer.

Aitor Azcoaga stated that, without any licence, the licence applicable to the contents of the EIOPA Web site would apply, and that this licence was very restrictive. EIOPA is open to discussion and encourage to the interested parties to send questions and suggestions. This discussion has already started and will last some weeks.

3. EBA taxonomies

A draft release of the V2.6 CRR taxonomy should be available very soon. The production release is planned for end October.

This version should include official versions of the Table Linkbase (Recommendation) as well as Extensible Enumerations.

4. ECB taxonomies

The ECB should publish a “DataPoints” taxonomy, with data from 10 templates of FINREP. The first reference date of this taxonomy would be End Q2 2016, a first draft should be available in October and the production version published in December.

5. ANACREDIT

A task force of the Supervisory Reporting working group is working on this reporting, working on a taxonomy and a POC showing the adequation of XBRL technology. Contact me if you want to be part of this task force.

6. ESMA

The European Securities and Markets Authority is seeking a “Seconded National Expert” (SNE) with a profile in XBRL for its Investors and Issuers Department, which is part of a wider Corporate Reporting Team. (link)

7. SRB (Single Resolution Board)

The SRB will develop XBRL taxonomies. The first taxonomy will be dedicated to information needed to compute the contribution of target finnacial institutions to the SRB. Future taxonomies will be devoted to reporting.

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Presentations of the XBRL WEEK in Frankfurt, 2016.

XEU Day, Eurofiling and Academic Track. Hosted by the ECB. June 1-2, 2016.
Except stated otherwise, the presentations are solely the responsibility of the authors.

DAY TIME DESCRIPTION
WEEK 2016 AGENDA
June 1 09h15 JM Israel MMSR.pdf
June 1 09h40 AWellerXBRLEUROPEFrankfurt.pdf
June 1 10h05 EIOPA update Patrick Hoedjes.pdf
June 1 10h50 BrunoTesniereXBRLWEEKFrankfurt.pdf
June 1 11h00 ThomasVerdinxEBRWGXBRLWEEKFrankfurt.pdf
June 1 11h10 Update on the IFRS Taxonomy June 2016.pdf
June 1 11h30 German Company Register XBRL EV_010616.pdf
June 1 11h50 Bas Groenveld SBR update.pdf
June 1 12h10 SR Working Group update.pdf
June 1 13h45 Standards in market infrastructures.pdf
June 1 14h05 Data Quality validation rules and XBRL.pdf
June 1 14h25 ManuelOrtega.pdf
June 1 14h45 IFRS_9_Beerbaum_Piechocki.pdf
June 1 15h25 MichalPiechocki_FrankfurtGroup.pdf
June 1 15h45 XBRL in Asia.pdf
June 1 16h05 XII UPDATE.pdf
June 1 16h25 BPB UPDATE XBRL EUROPE FRA.pdf
June 1 16h50 GillesMaguetXBRLWEEKFrankfurt.pdf
June 2 09h15 Juan Alberto ECB Supervisory Reporting.pdf
June 2 09h55 Karla McKenna interconnected standards.pdf
June 2 10h05 Stephan Wolf GLEIF.pdf
June 2 10h30 Integration of DPM Architect with BBDD.pdf
June 2 10h40 Owen Jones – EBA release plan and future.pdf
June 2 10h50 SMEsFinancialReportSpainEasyXBRLOpenSource.pdf
June 2 11h15 EIOPA update for Eurofiling.pdf
June 2 11h15 Maria Mora- AECA – Integrated Suite.pdf
June 2 14h00 Central_Bank_Ireland_NST_Presentation.pdf
June 2 14h00 Panel_BPB_ESFS_R1.00.pdf
June 2 14h30 AnaCredit JMIsrael.pdf
June 2 14h30 EDI in the Dutch insurance industry.pdf
June 2 15h00 BoE Eurofiling – Not published.pdf
June 2 15h00 FDS Project Presentation.pdf
June 2 15h00 Paul Staal ING.pdf
June 2 15h50 EIF_DS_xBRL_final_IB.pdf
June 2 16h15 EWF_Ukraine FinSector_fv.pdf
June 2 16h35 Maria Mora- CDP-TFCD presentation.pdf
June 3 16h15 TUTORIALS.pdf

ACADEMIC TRACK                                         CALL FOR PAPERS

AUTHOR/S DESCRIPTION
Zabihollah Rezaee, University of Memphis 1_Integration of Sustainability Performance Reporting And XBRL
Kamaleddin Yaghoobirafi, Shahid Beheshti University 2_On the optimization of XBRL Taxonomies Architecture from Semantic Interoperability perspective
Tahereh Monzavi, Alzahra University 3_Semantic Interoperability in Business Reporting: A Case Study of XBRL adoption in Iran Capital Market
Nicola Castellano, University of Macerata 4_Investigating the determinants of XBRL Disclosure
Maryam Heidari, Univ. Freiberg 5_Analytical Support of Financial Footnotes: A Qualitative Research Proposing Text Mining Approach
Meiling Liu, Shanghai National Accounting Institute 6_How To Train Stakeholders On XBRL Technology, Experiences Of XBRL China
Christian Beelitz, University of Freiberg 7_The evolution of requirements on XBRL – A shift from data exchange to data integration
Andreas Harth, Karlsruhe Institute of Technology 8_Towards Real-Time Calculation of Financial Indexes using XBRL and Linked Data
Ignacio Boixo, CEN workshop on XBRL 9_Transaction, supervision and disclosure: standardizing a continuum
Dirk Beerbaum, University of Surrey Business School 10_Towards an XBRL-enabled Corporate Governance Reporting Taxonomy. Empirical study of NYSE-listed Financial Institutions
Matthias Goeken, University of the Bundesbank 11_Data Quality and Governance Issues to Bring the XBRL-Idea to Life
Sascha Martin, University of Freiberg 12_Information added value in the credit scoring with XBRL
Pierre Teller, University of Nice Sophia-Antipolis 13_The Determinants of Voluntary Disclosure in XBRL Financial Statements
Ignacio Santos, Carlos III University of Madrid. 14_Mapping between the formulas XBRL and the Multidimensional Data Model.
Eduardo González, Association for Computing Machinery 15_XBRL validation logs analysis and clasification with Automation Cockpit using supervised learning methods
Herm Fisher, Paul Warren, XBRL Standards Board 16_XBRL Open Information Model
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Minutes May 26, 2016

1) The conference call was dominated by the situation of T4U and its impact on the market place.

Nearly 20 companies have registered themselves onto Eurofiling, as valid market alternative to T4U.

The group has heard that EIOPA is willing to launch a survey on commercial tools for undertakings, as decided in the ITDC; the survey is probably being similar to the Eurofiling one (http://eurofiling.info/portal/xbrl-solutions/).

2) Frankfurt week

The group discusses about different panels and meetings

  • taxonomy life cycle?
  • various issue with hotfixes?
  • when to implement new specifications?
  • error handling and feedback?
  • quid json?

3) Taxonomies update
The group discusses the latest news on EBA taxonomies (2.4.1.1) and EIOPA’s imminent taxonomy release (2.1.0)
 

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