1. Should Taxonomies be Open-Source? Panel Debate David Bray IASC Foundation Contracts Coordinator Michal Piechocki IASC Foundation XBRL Team

2. 2 Should Taxonomies be Open-Source? Introduction Open and Closed Source Open Source Source code is publicly available Voluntary participation, open projects Idea of cooperation Open to all contributors Source code is “Free” – Additional services can be charged for Sample projects: Linux, Mozilla Firefox, Eclipse Closed Source Closed projects, source code not required to be publicly available Project usually managed by a single legal entity Only selected members contribute (restricted) Contribution only from within the group Proprietary products for sale Sample products: Windows, Oracle etc.

3. 3 Should Taxonomies be Open-Source? Taxonomy License

4. 4 Should Taxonomies be Open-Source? The author(s) of the taxonomy GNU General Public License IASC Foundation IASC Foundation Taxonomy License Who owns the taxonomy? Ownership

5. 5 Should Taxonomies be Open-Source? Anyone can modify (extend) The author owns the extension The GNU GPL applies to the modifications GNU General Public License Anyone can modify (extend) The author owns the extension The owner can licence the taxonomy under any terms they choose IASC Foundation Taxonomy License Who can extend? Who owns the extension? Extensions

6. 6 Should Taxonomies be Open-Source? Anyone can translate The author owns the translation GNU GPL applies to the translation GNU General Public License Only with IASC Foundation consent IASC Foundation coordinates translation IASC Foundation owns the translation and releases it under IASC Foundation Licence IASC Foundation Taxonomy License Who can translate? Who owns translation? Translations

7. 7 Should Taxonomies be Open-Source? Anyone can use or implement the taxonomy, extensions or translations The GNU GPL does not restrict use Distribution may be charged for, but is of limited value Related services may be charged for GNU General Public License Anyone can use or implement the Taxonomy, translation is restricted Use is restricted, but IASC Foundation allows most potential uses Cannot charge for supplying the taxonomy May charge for related products and services IASC Foundation Taxonomy License Who can implement? The scope of implementation? Implementation

8. 8 Should Taxonomies be Open-Source? Anyone GNU GPL should be mentioned GNU General Public License Anyone Under XBRL IP Policy Unrestricted IASC Foundation Taxonomy License Who can publish information about the taxonomy? Publication

9. 9 Should Taxonomies be Open-Source? Anyone – unrestricted GNU General Public License No one from the taxonomy Possible from services IASC Foundation Taxonomy License Who can generate revenue from the taxonomy? Profits

10. 10 Should Taxonomies be Open-Source? Taxonomy Development Process

11. 11 Should Taxonomies be Open-Source? IFRS XBRL Taxonomy Internal life cycle IFRS Standards Release IASCF / IASB Initial Taxonomy Drafts Internal Review & Validation Taxonomy Release IFRS Requirements Business Entities Review XBRL TRP / TAP Taxonomy Update Issues & Comments Business EntitiesIASCF XBRL TeamXBRL Consortium

12. 12 Should Taxonomies be Open-Source? IFRS XBRL Taxonomy Publication process Taxonomy Release Internal issues evaluation Issue corrected / rejected Corrections Improvements New Taxonomy Release Business Entities Review Issues submission XBRL TRP / TAP Issues submission Business EntitiesIASCF XBRL TeamXBRL Consortium

13. 13 Should Taxonomies be Open-Source? Potential Open Source Development Cycle IFRS Standards Release IASB IASCF Publish necessary developments to the Taxonomy Internal Review & Validation of community submissions Taxonomy Release IASCF scope necessary amendments to taxonomy Community Review of proposed developments Issues & Comments Volunteer groups undertake the work required The Community IASCF XBRL Team Include accepted submissions into IASCF Taxonomy Adoption by Companies using IFRS XBRL

14. 14 Should Taxonomies be Open-Source? Open Source Collaboration XBRL Taxonomy IASCF carries out quality control. Publishes an ‘official’ version of the Taxonomy which it endorses. IASCF contributes the current taxonomy. Manages the versioning. Coordinates the Community. Other IFRS Users XBRL Services Providers Jurisdictions RegulatorsCompanies

15. 15 Should Taxonomies be Open-Source? Panel Debate Moderator: Josef Macdonald Participants: Joanne Locke (University of Waikato) Marc Van Hilvoorde (XII Domain Working Group Chair) Bill Swirsky (XII Executive Committee) David Bray (IASC Foundation Contracts Coordinator) Timo Philipp (IASC Foundation XBRL Team) Michal Piechocki (IASC Foundation XBRL Team)

16. A presentation by the IASC Foundation XBRL Team