XBRL for regulatory reporting Belgian projects
Agenda XBRL projects by Belgian regulators National Bank of Belgium Banking, finance and insurance commission Federal Public Service Finance Agenda The current situation Why XBRL Project steps
XBRL for regulatory reporting The National Bank of Belgium Camille DÜMM Central Balance Sheet Office
The CBSO at a glance Legal changes in 1975 and 1976 Most Belgian companies must legally publish their annual accounts Standardization of annual accounts Set up of the CBSO on 17 April 1978 : to ensure speedy and efficient circulation of information available in annual accounts to arrange the statistical processing of the information gathered
The CBSO at a glance 1993 Introducing filing of annual accounts on floppy disk (text file) 2000Spreading on microfilm abandoned in favor of images-CD (PDF file) 2002Supplying copies of filed annual accounts through the Internet 2004Filing annual accounts through the Internet
The CBSO at a glance - data In 2003 : companies annual accounts pages
Current processing of annual accounts Electronic Paper Images database Quality Check Scanning Validation Data entry Accounting data Data loading Images CD PDF file Text file Output Paper Image CD Internet Figures Studies Statistics
The XBRL Project - Justification Why to change for XBRL ? Current processing system rigidity Future implementation of IAS/IFRS Purposes of the XBRL project Introduce flexibility in our process Make the maintenance easier Harmonization of the data format and exchange with other regulators Prepare the electronic filing of annual accounts drawn up according to IAS/IFRS
The XBRL project - Process
The XBRL Project - Steps 2005 Development of a taxonomy based on the Belgian GAAP Publication of the taxonomy on the website and contact with software companies 2006 Internal filing process adaptation Development of a application allowing the companies to fill in their annual accounts on Internet in XBRL 2007 Filing normalized annual accounts in XBRL