Harm Jan van Burg

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• Harm Jan van Burg

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Index

• The Dutch Taxonomy Project
• Coalition of the willing
• Spread the word
• New insights
• Challenges
• XBRL Needs

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The Dutch Taxonomy Project

• Goal reduction of administrative burdens for
  businesses
• By using a recognized XBRL taxonomy in financial
  chains
• Joint effort of
• Ministry of Finance
• Ministry of Justice
• Ministry of Economics
• Ministry of the Interior and Kingdom Relations

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Where we stand

• The Dutch taxonomy is ready
• The infrastructure of processes is available
• Test validation service is up and running

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Coalition of the willing

• Covenant has been signed
• Intermediaries are willing to pass on realized
  efficiency profits to businesses

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A redesigned chain spread the word!

• Flyer to all businesses in the Netherlands
• Message use of XBRL will lower your bills
• Faster, cheaper and more effective reporting
• Flyer available during conference in English!

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New insights I regulatory reform

• Different approach in setting out rules and
  enforcing compliance
• Simplifying the way rules are executed (by both
  government and companies)

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New insights II Multiple regulatory reporting

• Businesses perspective
• Standardize data elements
• Transparency and innovation

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New insights III Multiple regulatory supervision

• Multiple regulatory supervision
• Shift from public bodies to private initiative
• Letter of understanding
• Risk assessment of companies and intermediaries
• Pre-filled up declarations / information
• More and more electronically confirmed
  information
• Focus manual supervision on exceptional cases

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Main challenge

• To expand the critical mass!

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Challenge the challenge

• Put the money where your mouth is

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Needs from XBRL-international consortium

• Versioning specification made available
• Formula linkbase
• XBRL Dimensions

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Announcement Global filing Taxonomy

• Interoperability between countries
• Several countries involved

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Thank you!