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Implementing XBRL for NZX Top Companies - Project Firstep Update

Learn about Project Firstep, a collaborative effort to implement XBRL in 8 top NZX companies, enhancing market announcement updates electronically. Stay updated on progress and key milestones to be delivered at the Ninth XBRL Conference in May 2004.

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Implementing XBRL for NZX Top Companies - Project Firstep Update

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  1. New Zealand Stock Exchange and Project Firstep Graeme Sinclair Co-Chair of XBRL NZ

  2. What is Project Firstep? • To implement XBRL into eight of the largest companies on the NZX to enable them to send their market announcement updates to NZX electronically

  3. Who is involved in Project Firstep? • Collaboration involving • 8 of the largest listed companies on the NZX • The Big 4 • NZX • ICANZ

  4. Why Project Firstep? • Risk identified in a full XBRL implementation • Low levels of experience in NZ with XBRL implementations • An opportunity for a quantum leap through collaboration • To get the ball rolling in NZ

  5. How is Project Firstep tracking? • Eight listed companies have agreed to particpate • Representatives attended a briefing on 22 October 2003 • Briefing discussed the costs and benefits of the project • A full media launch is planned for 22 November 2003 • Implementation is expected to occur between November 2003 and March 2004

  6. Other interested parties? • Statistics NZ • NZ Securities Commission

  7. The result? • Will be delivered at the Ninth XBRL Conference in May 2004 in Auckland, New Zealand • See you all there!!

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