The XDIS/XBRL pilot project I Technical Meeting of European XBRL implemented projects 5-6 October 2006 The XDIS/XBRL pilot project Giuseppe Sindoni Eurostat 2

Background 2004: Feasibility analysis to a project for extraction of statistical data from XBRL reports A pilot project feasible for extraction of raw economic data by NSIs 2005: X-DIS, XML for Data Interoperability in Statistics Funded by IDABC Aimed at implementing XML standards in the ESS

Objectives of the pilot project Test: Efficient use of XBRL in the statistical reporting chain Chances of widespread acceptance by enterprises and institutions Focus on Reporting by enterprises to NSIs Not on Reporting by NSIs to Eurostat

Tasks Inventory of relevant existing taxonomies and mapping to statistical legislation Monitoring XBRL developments Creation of an extensible statistical taxonomy Test the taxonomy in a live environment with suitable enterprise samples Define if and how make it operational in enterprises Feasibility analysis of the “pull” approach

Reference groups The Accounting and Statistics Task Force To co‑ordinate work and identify possible needs for action w.r.t. IAS and Statistics XBRL pilot reports to A&S TF The XBRL pilot Task Force To provide test environments and feedback Composed of active members and observers BE, ES and NL to be active members

Task 3 Creation of an extensible statistical taxonomy First experiment: Taxonomy for SBS at INE Effective collaboration Many concepts to be defined from scratch Draft IFRS based European Statistical Taxonomy IFRS to be the future FR standard (?) Taxonomy to be used by countries and extended with local concepts Covers: Services/Trades, Industry and Construction

Planning task 4 Test the taxonomy in a live environment with suitable enterprise samples To be performed with active members Initial test plan prepared to test between June and September 2006 Misalignment with local project schedules suggested to reschedule between October 2006 and February 2007

Running task 4 INE Statistics Belgium CBS Taxonomies to be tested against instances coming from three volunteer enterprises Statistics Belgium Development of XBRL based prototype data collection system to test with volunteer companies CBS Taxonomy to be tested against instances coming from accounting firm

Task 1. Mapping Procedure (2) NSI (1) Statistical frameworks ENTERPRISES SBS STS PRODCOM LFS … SCOPE DEFINITION MODELIZATION MAKE INVENTORIES OF SBS CHARACTER-ISTICS PARAMETRIZATION DETERMINE VALUES TO COLLECT TO MAKE SBS CHARACTERISTICS MAP VALUES TO ACCOUNTING CONCEPS FIND DATA MODEL common industry services trade credit entities insurance pension funds REGULATIONS FIND OUT RELATED TAXONOMIES / ACCOUNTING PRINCIPLES IFRS (sets of characteristics)

Task 3. Taxonomy X-DIS/XBRL IFRS scenario For IFRS scenarios (as a proof of concept and base for a future XBRL Statistical Taxonomy) IFRS-GP 2005 Char. Label xdis-eu-sbs-ci-characteristics-2006-09-01.xsd Char. Ref. Var. Label xdis-eu-sbs-ci-variables-2006-09-01.xsd Var. Pres.

How to work with Statistical European Taxonomy? IFRS scenario for Member States For National Statistical Taxonomies based on European Statistical Taxonomy will be necessary to extend, in XBRL sense, the taxonomy offered by Eurostat, including the new elements and linkbases. IFRS-GP 2005 Char. Label xdis-eu-sbs-ci-characteristics-2006-09-01.xsd Char. Ref. Var. Label xdis-eu-sbs-ci-variables-2006-09-01.xsd National GCD Var. Pres. Var. Pres. xdis-MS-sbs-ci-variables-2006-09-01.xsd Var. Calcul Var. Label

Future activities October 2006 – February 2007 March 2007 Prepare and perform tests March 2007 Acceptance analysis April – November 2007 Extension to other domains and countries (maybe IE, LU and SE)

Lessons learned so far Many different types of heterogeneities between countries and domains Differences in local GAAPs Different political approaches Different rationales for XBRL introduction Statistical taxonomy design could be driven also by technical/organisational considerations XBRL acceptance by enterprises lower than expected

Issues Is it realistic to aim for extraction of statistical data from existing XBRL accounting and financial reports in the medium term (2008)? Depends on countries Is it a good choice to base European statistical taxonomies on IFRS? -> No alternative Are we really reducing the burden on enterprises?