XBRL enabling financial reporters XBRL International Conference – Vancouver December 2007

An innovative vision

3 Innovation at Deloitte Submitted IdeasActive ConceptFunded PrototypeExpansionOperation All raw ideasIdeas selected for further development Following successful business case, given funding for prototype development Following successful prototype, approved for expansion Implementation of idea

4 Ideas submitted to “The Innovation Zone”

5 Ideas reviewed and approved as an “Active concept” Innovation council approve idea in principle Submitter asked to provide more detail through detailed business case Business case approved

6 Funds used to prototype potential solution Prototype solution built to inform development process For XBRL:  Prototyped existing tools “pasted” together  Used IFRS taxonomy  Produced valid instances for motor car dealer clients  Rendered report using instance data and “Australian” reporting terms

7 Expand use to confirm costs and benefits Simulate production environment For XBRL:  Acquired licenses to develop toolset  Built first taxonomy  Built Special Purpose Financial Report formats  Produced multiple instances and multiple reports  Compared “apples” with “apples” by reproducing previous year end financial reports  Measured time saving

8 Production roll out Stabilise toolset Develop to increase automation Expand pilot system:  User base to include more Deloitte users and their clients  Taxonomy  Report formats  Analytic capability

9 How innovation jumps hurdles Hurdle #1: Client accounting systems that can not produce XBRL instances –Re-key or –Convert Result: we built a conversion tool Hurdle #2: We need a financial report that is human (partner) friendly –Re-key into MS Word and/or MS Excel or –Automate Result: we built a publishing tool Hurdle #3: There is no published Australian Taxonomy –Sit and wait or –Get in an create one Result: we created our own taxonomy

The people perspective

11 Learning a new language….XBRL!

12 A new approach From our preliminary planning we devised a new approach to preparing financial reports Map client trial balance Calculate & validate report data Import data & generate report Publish report Lodge Review Map client trial balance to the Deloitte Taxonomy to produce a first run instance Validate instance, compute missing fact values and store revised instance Import instance document into report template Add missing fact values such as Director details, select notes and publish to Deloitte specification Submit for Partner review and finalise for client sign off Lodge instance to regulator

13 It aint so hard! Video #2 Map client trial balance Calculate & validate report data Import data & generat e report Publish report Lodge Review

14 Making it real Map client trial balance Calculat e & validate report data Import data & generat e report Publish report Lodge Review

The pilot system

16 Map the trial balance

17 Calculate & validate report data

18 Import data & generate report

19 Publish report

20 Review

Do the numbers stack up?

22 Financial reporting under “data drudgery” 16% Administration of client engagement including setting budget, engagement terms and risk review

23 Financial reporting under “data drudgery” 63% 20% 1% To prepare a financial report ready for review by the partner ReviewLodge

24 Financial reporting under “XBRL” -86% To prepare a financial report ready for review by the partner This reduction in processing time alone represents a saving of 54% in total time Map client trial balance Calculat e & validate report data Import data & generat e report Publish report Lodge Review

25 More information? Peter Williams CEO Deloitte Digital Bevan McLeod Account Director Deloitte Growth Solutions