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EBR Consortium Structure

EBR Consortium Structure. Straw-man Examples to Date May 28, 2004 (in chronological order from oldest to most recent). Thoughts from Mike Willis.

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EBR Consortium Structure

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  1. EBR Consortium Structure Straw-man Examples to Date May 28, 2004 (in chronological order from oldest to most recent)

  2. Thoughts from Mike Willis • There is a idea that we may want to incorporate into the structure – the idea here is that the industry orientation to the EBR as the only one will ultimately limit development and usefulness. I agree that it is a key concept and one that we should focus on/include; just saying that we may want to structure this idea so that additional useful dimensions are considered. • By thinking of information within the context of multiple dimensions; we can provide more valuable and useful standards guidance to the market…

  3. Thoughts from Mike Willis • The more frameworks we can align for EBR, the better off the uses/practitioners will be as their individual perspectives will be more likely covered by the broader nature of multiple frameworks rather than one (an example of this is the FASB standards, issued in a chronological order – call that the 'time framework'. So after decades of this time framework, we step back from the bar and decide that the 'Conceptual Accounting Framework' is a pretty good idea, and it is. The COA provides the user of the FASB standards with a contextual framework for the standards based upon how they might be used/relevant in the context of the informational report). So, to the extent the EBR effort can leverage multiple frameworks, the more granular the EBR guidance and the more useful that guidance will be to the practitioner. We can leverage the following framework dimensions: • Conceptual Accounting Framework - GAAP financial reporting orientation • COSO Framework - risk orientation • Process Classification Framework - business process orientation • EBR Framework - Value orientation by industry sectors

  4. Version 1: straw-man consortium structure based on XBRL model: Advisory Board (Champions / Visionaries) Operating Committee EBR Management Supply Chain Communities Producers Industry Working Groups Public Companies (4) Private Companies (1) EBR Framework Governance & Accountability Industry Associations (3), FEI Standards Process Transparency Consumers KPIs To be organized by industry sector Regulators (4) Investment Community (5-7) Enhanced MD&A Lending Community (1-2) Info & Communication Rating Agencies (1) Private Companies Enablers … Accounting Profession (5) … Technology Enablers (2) … Other Enablers (2)

  5. Version 2: staff-developed model B B … … C C A A Members Board Balance? Combination of Standing and Rotational Membership? Steering Committee (Supply Chain, Industry and Geography) Management Administrative Teams EBR Implementation EBR Framework Development 1: Develop International Framework 2: Customize by Industry Implement by Geography

  6. Version 2: staff-developed model (continued from previous slide) Supply Chain Communities Producers Public Companies (4) Private Companies (1) Industry Assns. (3), FEI Consumers Regulators (4) Investmt. Community (5+) Lending Community (1-2) Rating Agencies (1) Enablers Accounting Profession (5) A C B … Technology Enablers (2) Other Enablers (2) Membership, Framework Development through Supply Chain Collaboration… EBR Framework Development 1: Develop International Framework 2: Customize by Industry

  7. Balance? • Combination of Standing and Rotational Membership? A B C … A B C … Version 3: Mike Willis version of staff model Members Advisory Board Steering Committee (Supply Chain, Industry and Geography) Management Customize by Industry Implement by Geography EBR Framework Development 1: Develop International Framework 2: Customize by Industry 3. Implement by Geography

  8. Industry Representation Geographic Representation International Representation Version 3: Mike Willis version of staff model(continued from previous slide) Membership, Steering Committee Representation Across Each Dimension: Supply Chain Communities Producers Public Companies (4) Private Companies (1) Industry Assns. (3), FEI Consumers Regulators (4) Investmt. Community (5+) Lending Community (1-2) Rating Agencies (1) Enablers Accounting Profession (5) Technology Enablers (2) Other Enablers (2)

  9. Version 4: Susan Hinds model based on May 18th meeting discussions Management structure along same lines as versions 1-3 TECHNOLOGY TASK FORCE Focus: The deployment of XBRL & technology related issues for overall project ENHANCED BUSINESS REPORTING TASK FORCE Focus: Innovation of the current business reporting model & global adoption List of working groups (ask Mike Willis) List of working groups from above Insert a visual here similar to versions 1-3 for EBR - how does Mike see this evolving such as: Framework Primary (stds. & terms) Industry Sector Company For example Insert the EBR visual (collapse versions 1-3 into one aid)

  10. Consortium Membership Considerations • Membership Dues/Funding • Initial funding of management structure • Required member contribution • Monetary: based on organizational size? • Dedicated or part-time resources • Types of Steering Committee Representation • Rotational terms depending upon nature of membership [e.g. supply chain, geographic and/or specific industry reps?] • 3-year staggered terms? • Standing members [e.g. IASB?]

  11. Summary of Operational Structure and Governance Considerations Structure, Governance and Funding Considerations (outline from www.consortiuminfo.org): • Legal Form/Tax Status [501(c)(6)?] • Operative Documents • Certificate of Incorporation • By-Laws • Intellectual Property Rights Policy • Policies and Procedures of the Primary Committee and Subsidiaries thereof • Membership Application • Management Structure (Governance) • Operations (Hosted, Staffed, Hybrid?) [Hybrid?] • Budget and Structure • Standards Process

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