Maciej Piechocki

1
Implementation and Development of XBRL Poland
Thursday, 8th of February 2007, Lisbon

• Maciej Piechocki
• IASCF XBRL Team
• DWG Chair XBRL Poland

2
Agenda

• Jurisdiction Development
• Past, Current and Future Activities
• Drivers of XBRL Implementation

3
Jurisdiction Development

• Kick-Off Conference (February 2005)
• first XBRL public event
• XBRL introduced by IASCF, XiE, XBRL Denmark
• Round Table (April 2005)
• statutory tasks incorporated in the bylaws
• legal form neutral, independent, trustworthy
• first project creation of the public taxonomy
• neutral facilitator

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Jurisdiction Development

• Round Table Statutory Tasks
• contribute to improvement of the existing
  reporting standards
• promote the knowledge of the current status and
  trends in electronic reporting standards
• develop economy and science by works aimed at
  development of XBRL
• undertake and reinforce other entities in their
  activities related to development and promotion
  of XBRL
• enable co-operation of the Association members
  within the above-specified scope of activities

5
Jurisdiction Development

• Round Table - Legal Form
• neutral, independent
• according to the act of the 7-th April 1989
  Prawo o stowarzyszeniach /Dz. U. Nr 20, poz.
  104 with later changes/ Association XBRL Polska
  is an independent not-for-profit association
• trustworthy
• the Association is registered with no. 248935 and
  therefore is a legal entity

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Jurisdiction Development

• Round Table First Project
• development of the public taxonomy
• IFRS extension vs. building new taxonomy
• based on Polish Accounting Act
• on-financial, financial, insurance entities

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Jurisdiction Development

• Round Table Neutral Facilitator
• neutral third party, namely Accountants
  Association in Poland (in Polish Stowarzyszenie
  Ksiegowych w Polsce SKwP), facilitated the
  creation of association XBRL Polska and is
  champion of the jurisdiction.

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Jurisdiction Development

• Founding Members Assembly (September 2005)
• agreement on bylaws
• organisational structure of the association
• XBRL International membership
• election of the Board and Revision Committee
  members, Secretary General
• fee structure

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Jurisdiction Development

• Founding Members
• ordinary members
• supporting members (12 1)

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Jurisdiction Development
Decisions Strategy Management
General Assembly
Revision Committee
Board
Secretary General
Taxonomy Working Group
Marketing Communication W.G.
Chair
Operations Projects Working Groups
Co-Chair CI
Co-Chair FI
Subgroup FI
Subgroup CI
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Jurisdiction Development

• Fee Structure (in )
• supporting members
• Turnover
• lt 2,5 Mio. Euro 1.000
• 2,5 Mio. Euro - 25 Mio. Euro 2.225
• gt 25 Mio. Euro 5.000
• ordinary members free of charge

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Agenda

• Jurisdiction Development
• Past, Current and Future Activities
• Drivers of XBRL Implementation

13
Past, Current and Future Activities

• Taxonomy Development
• communication channel
• Internet
• tele and videoconferences
• SharePoint
• regular meetings
• workflow
• building of the information model
• revision of the information model
• development of the taxonomy
• revision of the taxonomy
• publication of the taxonomy

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Taxonomy Framework
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Past, Current and Future Activities

• XBRL Promotion
• meetings with private companies and public
  authorities
• information about standard and association
  activities
• target new members and active involvement in the
  XBRL implemenation
• results new projects, new members

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Past, Current and Future Activities

• XBRL Promotion
• seminar
• September 2005 NBP implements XBRL
• conference
• September 2006 COREP FINREP in Europe
• National Bank of Poland, Polish Banks
  Association, Association XBRL Polska,
• Speakers Bank of Spain, Bank of France, National
  Bank of Belgium, XBRL in Europe
• Attendees 100 people (70 largest banks)
• articles, papers, consultations, etc.

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Past, Current and Future Activities

• XBRL Implementation National Bank of Poland
• target prudential (Basel II) financial (IFRS,
  Polish GAAP) reporting
• XBRL taxonomies
• COREP, FINREP
• Polish extensions
• start March 2007 (COREP), June 2007 (FINREP)
• mandatory format for over 700 banks

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Past, Current and Future Activities

• XBRL Implementation Companies House
• target publication of financial statements of
  entities fulfilling requirements defined in
  P.A.A.
• XBRL taxonomies
• Polish GAAP, IFRS (Polish labels)
• start 2008
• XBRL as voluntary format for 13.000 entities
• price differentiation as an incentive

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Past, Current and Future Activities

• XBRL Implementation Listed Companies
• Assumptions
• public event
• establishment of the working group
• gradual XBRL implementation
• reuse of existing taxonomies

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Past, Current and Future Activities

• XBRL Implementation Listed Companies
• Public event
• topic standardization of the financial reporting
• leaders Stock Exchange, FSA, XBRL Poland
• speakers auditors, investors, IASCF, NBP
• attendees listed companies, analytics,
  investors, brokers

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Past, Current and Future Activities

• XBRL Implementation Listed Companies
• establishment of the working group
• committed parties Stock Exchange, Listed
  Companies Association, FSA, XBRL Poland
• Task
• decision on information model based on IFRS
• indication of companies participated in Pilot
  Project
• analyse of differences of presentation between
  current IFRS statements and IFRS taxonomy

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Past, Current and Future Activities

• XBRL Implementation Listed Companies
• gradual XBRL implementation
• New Market (obligatory)
• listed companies from Main Market (voluntary)
• listed banks from Main Market (voluntary)
• lessons learned
• XBRL as obligatory format?

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Past, Current and Future Activities

• XBRL Implementation Listed Companies
• reuse of existing taxonomies
• FINREP PL (NBP)
• IFRS (IASCF)
• Polish GAAP (XBRL Poland)
• Extensions where necessary

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Agenda

• Jurisdiction Development
• Past, Current and Future Activities
• Drivers of XBRL Implementation

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Drivers of XBRL Implementation

• Standardisation of Reporting
• Cost and Time Aspects
• Legal Changes in the EU
• cross regional IFRS, BASEL II, CRD
• local IT governmental requirements
• XBRL Marketing Aspects
• IASB involvement, EU founding, SEC activities,
  CEBS recommendations, etc.
• Systems and Standards Out-Of-Date
• New Information Flows

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Project Management

• Domain Working Group Chair
• Maciej Piechocki, IASCF XBRL Team
• E-Mail mpiechocki_at_iasb.org
• Secretary General
• Mateusz Hojda, XBRL Poland
• E-Mail mateusz.hojda_at_xbrl-eu.org

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Q A
Thursday, 8th of February 2007, Lisbon

• Maciej Piechocki
• IASCF XBRL Team
• DWG Chair XBRL Poland