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“Convergence, Communication and Interactive Data” December 3 rd to 6 th, 2007 Vancouver, British Columbia, Canada
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Wednesday, December 5 th, 2007 – 16.45 to 17.15 Presented by Don Geiger, Michał Piechocki, and Robert Walters International Public Sector Working Group (IPSWG): Plans and Priorities
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The observed need for the establishment of a process/avenue for public sector agencies to gain education and knowledge of the XBRL taxonomy development process and provide a due diligence process environment for the establishment and vetting of public sector taxonomies, in collaboration with governmental accounting standard setters.
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IPSWG was established to provide a forum for discussion of relevant XBRL issues related to business reporting within government agencies. It will enable members to provide input and participate in discussions and working groups with respect to: ◦ Development and implementation of an IPSAS taxonomy/extension; ◦ Instance document creation; ◦ Rendering capabilities; and ◦ XBRL-GL (IFRS) capabilities.
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The XBRL Standards Board (XSB) of XBRL International has authorized the IPSWG to carry-out duties related to research, analysis and recommendations on a wide range of XBRL issues connected to: ◦ The adoption of public sector XBRL projects; ◦ Taxonomy development; and ◦ Education of interested parties.
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The work of the IPSWG will include education and training suitable for public sector focused individuals and organizations. The group will work to establish XBRL taxonomies specific to public sector financial reporting. IPSWG will also provide implementation guidance for public sector organizations interested in XBRL.
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Taxonomy ◦ Development of a taxonomy based on IFRS and incorporating IPSAS standards ◦ Capable of being leveraged further for national and local extension requirements Education ◦ Presentation and documentation material to aid public sector discussions on the benefits of XBRL ◦ Sharing of best practices across jurisdictions ex. XBRL as a solution for internal reporting needs
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XBRL implementation guidance for public sector entities – 1 st quarter 2008 Establishment of IFRS public sector extension taxonomy (a.k.a. IPSASB taxonomy) 1 st draft – 3 rd quarter 2008 XBRL training for public sector – expectation is to have a session at each international conference or as requested Coordination with standard setting organizations (IFAC, Audit Assurance, United Nations, IASB, etc) IFRS coordination process – 2 nd quarter 2008 IPSAS taxonomy translated to other languages (Spanish, French, etc.) – 2 nd quarter 2009
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IPSWG holds monthly conference calls on the 3 rd Thursday of each month (next - December 20 th ) ◦ 13.30 – UTC/GMT/Zulu ◦ 09.30 – EST (Ontario) ◦ 14.30 – BST (UK) ◦ 06.30 – PDT (Nevada) ◦ 15.30 – CEST (Poland/France/Netherlands) ◦ 22.30 – KST (Korea) ◦ 10.30 – ADT (Argentina) Sub-group meetings are scheduled as necessary
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Send an e-mail to: publicsector@xbrl.org publicsector@xbrl.org or Go to: www.xbrl.org/IPSWGCall
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