XBRL GL, the standardized Global Ledger, and Interest/Adoption in the Global Tax Community Eric E. Cohen Founder, XBRL GL Working Group Chair, OASIS Tax XBRL Liaison SC 21/09/2018 13th XBRL International Conference

13th XBRL International Conference Agenda Brief overview: XBRL GL XBRL GL’s role in integrating the business reporting/audit reporting supply chain Demonstration Issues under discussion in our GL-FR efforts Call to action 21/09/2018 13th XBRL International Conference

Old World of Electronic Data Exchange NEW WORLD

Old World – Standardize on Technology ASB BLT HDL AFT TGI FRY DRW SWG QYD DLY BST WIU ZIS XOI CUI RMO XPS KYF KFC WHR JIA GEX FQA VUH HCO WKD ECP SKD MFP WCP DKE AJT 21/09/2018 13th XBRL International Conference

New World: Standardize on Standards Service Bus Web services Service-Oriented Architecture Enterprise Services Bus Facilitated by Standard payload 21/09/2018 13th XBRL International Conference

Proprietary Formats: XML Alone Point A Point B ... Point n+1 qbxml qbxml YOU ARE HERE smbxml smbxml Intacct xml Intacct xml SAP SAP Peoplesoft xml Peoplesoft xml Oracle 21/09/2018 13th XBRL International Conference

standardized Global Ledger “Financial Reporting” Scope and role of XBRL XBRL GL, the standardized Global Ledger XBRL “Financial Reporting” Business Operations Internal Business Reporting External Business Reporting Investment, Lending, Regulation Economic Policymaking Processes Companies Financial Publishers and Data Aggregators Investors Central Banks Participants Trading Partners Management Accountants Auditors Regulators Software Vendors

From Initial Transaction XBRL GL From Initial Transaction <gl-cor:taxes> <gl-cor:taxAuthority contextRef="now">ABN</gl-cor:taxAuthority> <gl-cor:taxAmount contextRef="now" decimals="2" unitRef="AUD">20</gl-cor:taxAmount> <gl-cor:taxCode contextRef="now">G</gl-cor:taxCode> </gl-cor:taxes> I N V O I C E Invoice #: 10037 May 2, 2003 ABC Sales Corp. Item Description Qty Extension GST 1078 Blue Widget 200 2,803.78 20 G 1083 Cyan Widget 100 1,402.93 0 F Sub-total: 47,592.33 Freight: Total: 47,592.33 <documentType>invoice</documentType> <documentNumber>10037</document Number> <documentDate>2003-05-02</documentDate> 21/09/2018 13th XBRL International Conference

13th XBRL International Conference It's not It's not but it is Other “views” of data But it is UBL UBL Statutory Filings ACORD ACORD Statistics Tax Returns EDI EDI Financial Statements Master Files * Operational Details Journal Entries * Trial Balances Setup Files and more 21/09/2018 13th XBRL International Conference

READem and LEAP Resources Events Accounts Documents Links People AR IM PR GL Outsourced Travel and Expense Non-integrated point of sale External payroll provider Subsidiary with separate system 21/09/2018 13th XBRL International Conference

Across data definitions Across file formats Across language Across data definitions Across file formats Every System as XBRL XBRL GL System 1 XBRL GL System 2 XBRL GL System 3 Account# Description Amount PostDate 勘定科目番号 勘定科目説明文 金額 転記日付 Identificador de la Cuenta Descripción Principal de la Cuenta Monto Monetario Fecha de Asignación/Ingreso accountMainID accountMainDescription amount postingDate accountMainID accountMainDescription amount postingDate accountMainID accountMainDescription amount postingDate 21/09/2018 13th XBRL International Conference

XBRL GL and Tax Planning/Compliance XBRL GL features (FAS 109, IAS 12) Tax specific accounts and entries Book/tax reconciliations Tracking permanent/timing differences Mapping to tax reporting lines GST/PST/VAT multiple taxes per entry detail line Payroll, fixed assets, customs and more 21/09/2018 13th XBRL International Conference

Drill Up, Drill Down, Drill (All) Around XBRL GL <xbrlInfo> <xbrlInclude>ending_balance <summaryReportingElement>usfr-pt:Cash </xbrlinfo> <summaryReportingElement>irs-1120:Cash <summaryReportingElement>xyz-fr:Cash US GAAP US Tax Management Reporting 21/09/2018 13th XBRL International Conference

Tax Standards Group Recognition OASIS Tax XML OECD Taxpayer Services SG Recommend XBRL as a central standard for exchange of business/financial information for tax purposes “[We] see the XBRL GL as a strategic open standard and fully support its direction and acknowledge its potential.” 21/09/2018 13th XBRL International Conference

13th XBRL International Conference OECD Tax eAudit While SAF-T could be represented using different file formats, it should be created in a data format that meets the needs of the auditor, preferably one that is widely used around the globe. Revenue authorities acknowledge that standard formats facilitate audit automation processes. Annex 4 shows a representation of SAF-T in XML. The use of XML format also provides an opportunity for a path towards adoption of XBRL-GL.[1] It is entirely a matter for revenue authorities to develop their policies for implementation of SAF-T. However, revenue authorities should be aware of the on-going development of XBRL GL, which could offer a more holistic approach to audit. They should also be aware of international efforts to develop data standards for compliance needs under the formal OASIS Tax XML Committee.[2] In their implementation strategy for SAF-T, revenue authorities should consider data formats that permit audit automation today while minimizing potential costs to all stakeholders when moving to new global open standards for business and financial data such as XBRL GL. 21/09/2018 13th XBRL International Conference

13th XBRL International Conference OECD Organization for Economic Cooperation and Development OECD CFA Committee on Fiscal Affairs WP1 Working groups WP9 Working group 9 FTA Forum on Tax Administration (2002) Services Services Subgroup Compliance Compliance Subgroup WP2 Working groups WP… Working groups TIES Tax Information Exchange System Subgroup IWG Informal Working Group STF Standard Transmission File SAF Standard Audit File Deliverables 21/09/2018 13th XBRL International Conference

OECD FTA, OASIS, XBRL OECD FTA OASIS XBRL Services Compliance Tax XML Organization for Economic Cooperation and Development OASIS Organization for the Advancement of Structured Information Standards XBRL Extensible Business Reporting Language FTA Forum on Tax Administration (2002) Services Services Subgroup Compliance Compliance Subgroup Tax XML Tax XML TC XBRL GL XBRL GL WG Tech Technical WG XBRL XBRL Liaison WG Dom Domain WG Tax eAudit formerly IWG OECD FTA, OASIS, XBRL SAF Standard Audit File XBRL GL Deliverables 21/09/2018 13th XBRL International Conference

13th XBRL International Conference One Standard Holistic Improves quality and accessibility of data Meet audit needs May revolutionize filing process May revolutionize how taxpayers and tax administrators interact 21/09/2018 13th XBRL International Conference

13th XBRL International Conference Feedback Requirements Please share xbrlgl@xbrl.org http://groups.yahoo.com/group/xbrl-gl-public Your speaker Eric E. Cohen XBRL Global Technical Leader, PwC Eric.E.Cohen@us.pwc.com +1-585-271-4070 21/09/2018 13th XBRL International Conference