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Information for Interested Jurisdictions

Information for Interested Jurisdictions. Bob Cuthbertson Member of the XBRL International Steering Committee Chief Operating Officer CaseWare IDEA Inc. J. Louis Matherne President, XBRL International Director – Business Assurance & Advisory Services, AICPA.

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Information for Interested Jurisdictions

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  1. InformationforInterested Jurisdictions Bob Cuthbertson Member of the XBRL International Steering Committee Chief Operating Officer CaseWare IDEA Inc. J. Louis Matherne President, XBRL International Director – Business Assurance & Advisory Services, AICPA Credit to Walter Hamscher for many of the slides in this presentation.

  2. XBRL Guiding Principles • Market drive model … win, 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

  3. XBRL XBRL XBRL XBRL Companies Financial Publishers and Data Aggregators Investors Central Banks Participants Trading Partners Auditors Regulators Management Accountants Software Vendors Scope and role of XBRL Business Operations Internal Financial Reporting External Financial Reporting Investment, Lending, Regulation Economic Policymaking Processes

  4. XBRL XBRL XBRL XBRL Companies Financial Publishers and Data Aggregators Investors Central Banks Participants Trading Partners Auditors Regulators Management Accountants Software Vendors Scope and role of XBRL Business Operations Internal Financial Reporting External Financial Reporting Investment, Lending, Regulation Economic Policymaking Collaboration is KEY!!! Processes

  5. 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 Sweden United Kingdom Japan Canada Ireland Korea Denmark China United States Netherlands Germany Singapore Spain Switzerland Colombia Brazil South Africa New Zealand Australia Argentina

  6. USD 5K DE (Jurisdiction) UK (Jurisdiction) JP, SG, Etc. IE (Provisional) ICAI (Facilitator) IDW (Facilitator) ICAEW (Facilitator) EIP 25K GBP 5K, 10K, or 15K Accountancy Educational Trust (IE) EUR 5K(?) SAP Deutsche Bank PPA World E&Y PwC KPMG … International structure XBRL International USD max(25K or 1/3 Dues) Russia (Not organised) … JPY 200K

  7. Board of Trustees Executive Committee At Large ISC Representatives 4th 3rd 1st 2nd XBRL Management President Operations Manager * Standing AU CA JP IASB* DE 2nd VC Ireland Korea Spain Members Sitting Members NZ NL UK US Specification Finance/Audit Committee Nominating Committee International Steering Committee Chair Jurisdictions International Working Groups Supply Chain Communities 1st Vice Chair Basel II Accounting Intermediaries Credit Risk Assessment Software & Services Domain General Ledger Regulators Marketing & Comm. Analyst Research & Grants Investor/Creditor Provisional Academic Taxation Preparer, Public Exchanges Preparer, Private

  8. Supply Chain Communities Preparer, Private Sector Accounting 2nd VC Intermediaries Software & Services Investors/Creditors Analyst Regulators Academic Preparers, Public Sector 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 Community members • Members of an established Jurisdiction • Individuals who participate in the working party of a Provisional Jurisdiction

  9. XBRL Int. Steering Committee XBRL J Steering Committee Domain Working Group Adoption Working Group Illustrative Jurisdictional Structure

  10. XBRL Int. Steering Committee XBRL J Steering Committee Illustrative Jurisdictional Structure • 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.

  11. 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

  12. 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 Benefits

  13. 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

  14. 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

  15. 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

  16. InformationforInterested Jurisdictions Bob Cuthbertson Member of the XBRL International Steering Committee Chief Operating Officer CaseWare IDEA Inc. J. Louis Matherne President, XBRL International Director – Business Assurance & Advisory Services, AICPA Credit to Walter Hamscher for many of the slides in this presentation.

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