1. International Financial Reporting Standards The views expressed in this presentation are those of the presenter, not necessarily those of the IASC Foundation or the IASB IASC Foundation Update from IFRS and XBRL Vienna, 19 November 2009 Maciej Piechocki 2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org

2. © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. www.iasb.org Why we care for XBRL at the IASC Foundation? Trustees decision in 2001 Part of the adoption and implementation of IFRSs Quality-assurance of the IFRS Taxonomy Maintenance and coordination The Mission of the IASC Foundation XBRL team: to provide users with an IFRS XBRL taxonomy with the same quality, in the same languages and at the same time as the IFRSs

3. © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. www.iasb.org How XBRL fits with the IFRSs? XBRL is the de facto standard for electronic reporting Part of the development of IFRSs –IASB goal: to provide high quality standards (IAS 1 par 9) –Organising the presentation of financial statements (i.e. True and Fair view - Framework 46) –Codification of concepts (help in convergence) Improved access for users to financial information Could increase the range of users (i.e. translation) Could ease IFRS conversion, understanding and implementation

4. Who is involved in our XBRL activities? 13 members + 5 appointed observers Monthly meetings Taxonomy review 18 members + 5 appointed observers Quarterly meetings Strategic advice Director of XBRL Activities Project Manager, Technology Project Manager, Accounting Project Assistant Executive Assistant

5. How we develop the IFRS Taxonomy? Input from: XBRL Advisory Council XBRL Quality Review Team XBRL International working groups Other taxonomy developers Regulators Software developers International groups: - Analysts - Preparers - Users

6. What are our major requirements? Business requirements TimelineConsistency Functional requirements InteroperabilityFlexibilityExtensibilityStability Technical requirements Compliance with XBRL technical specifications Consideration of new XBRL technologies © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. www.iasb.org 6

7. What we provide? * an ED of the IFRS for SMEs Taxonomy was released on 28 Sep 2009 A licence-free IFRS Taxonomy, consistent with the Bound Volume of IFRSs* IFRS Taxonomy translations into key languages A view of the IFRS Taxonomy in an easy- to-read, visual format that does not require knowledge of XBRL. Available in multiple languages Guidance on how use the IFRS Taxonomy from both an accounting and XBRL technology perspective IFRS Taxonomy Modules Manager - an online tool that guides users through the process of navigating and customising the IFRS modules that make-up the IFRS Taxonomy. Available in multiple languages A quarterly newsletter providing a summary of the latest international XBRL and IFRS developments

8. What we provide (continued) Outreach activities to propagate understanding and use of XBRL in conjunction with IFRSs Support for those wishing to implement the IFRS Taxonomy, through consultation or field- testing, including analysts, preparers, regulators and users Co-operation with: Other taxonomy developers International initiatives, such as the Interoperable Taxonomy Architecture (ITA) project XBRL International, a not-for-profit consortium of approx. 550 companies/agencies working together to build, promote and support the adoption of XBRL Accounting, financial and XBRL software developers International stakeholders OutreachSupportCo-operation

9. OCTOBERNOVEMBERDECEMBERJANUARYFEBRUARY Internal development XBRL Quality Review Team review Exposure draft Final taxonomy MARCH 2009 APRIL 2010 XBRL Quality Review Team (XQRT) review 4 Jan – 8 Feb 2010 Public review of ED IFRS Taxonomy 2010 15 Feb – 15 Apr 2010 Final release IFRS Taxonomy 2010 28 April 2010 This is a tentative timeline and may be subject to change When we provide the IFRS Taxonomy?

10. What are we going to change? IFRS for SMEs Taxonomy –Common schema –Single architecture IFRS 9 and other standards from the IASB Architecture changes –Concept names –Deprecation vs. deletion of concepts –Dimensions in the IFRS Taxonomy –Formulae and versioning as additional modules 2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org 10

11. What we wanted to know from the public? Concept names –R1: MinorityInterest => NoncontrollingInterest –R2: MinorityInterest => MinorityInterest –R3: i2009123 => i2009123 Deletion of concepts –D1: Delete from schema –D2: Leave in schema but deprecate Use of dimensions –L1a: Dimensions for lists –L1b: Dimensions for intersection tables –L2: Dimensions for statements breakdowns 2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org 11

12. What are dimensional breakdowns for statements? 2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org 12

13. Where XBRL and IFRS are in use? CEBS (EuroFiling - FINREP) Microfinance Exchange US SEC Securities Supervision in Chile Securities Supervision in Israel Johannesburg Stock Exchange in South Africa SBR Australia Bundesanzeiger in Germany HMRC and Companies House in the UK … 2009 IASC Foundation | 30 Cannon Street | London EC4M 6XH | UK | www.iasb.org 13

14. © 2008 IASC Foundation. First Floor | 30 Cannon Street | London EC4M 6XH | UK. www.iasb.org Questions or comments? Thank you for listening Expressions of individual views by members of the IASB and its staff are encouraged. The views expressed in this presentation are those of the presenter. Official positions of the IASB on accounting matters are determined only after extensive due process and deliberation.