European Regulatory Roll-out Package guide
From XBRLWiki
| Revision as of 10:20, 18 December 2013 (edit) Pablo.navarro (Talk | contribs) ← Previous diff |
Revision as of 10:23, 18 December 2013 (edit) Pablo.navarro (Talk | contribs) (→Scope) Next diff → |
||
| Line 70: | Line 70: | ||
| =Scope= | =Scope= | ||
| + | This CWA is a general guide to XBRL oriented towards national regulators on how to implement, extend and | ||
| + | manage XBRL taxonomies. The guidance and recommendations included in this CWA have been created for | ||
| + | regulatory filings in the context of European supervisory reporting.<br /> | ||
| + | |||
| + | In this document, “regulatory filings” encompasses authoritative financial reporting standards and generally | ||
| + | accepted accounting principles/practices (or GAAP), regulatory reports whose subject matter is primarily | ||
| + | financial position and performance and related explanatory disclosures, and data sets used in the collection of | ||
| + | financial statistics; it excludes transaction- or journal-level reporting, primarily narrative reports (for example, | ||
| + | internal controls assessments) and non-financial quantitative reports (for example, air pollution | ||
| + | measurements). | ||
| =How to start with XBRL. Supervisory Perspective= | =How to start with XBRL. Supervisory Perspective= | ||
Revision as of 10:23, 18 December 2013
CEN Workshop Agreement
Status: Approval Final Draft - Formal Vote
CEN WS CWA3 Convenor: Aitor Azcoaga (EIOPA)
CEN WS XBRL Experts: Pieter Maillard (Aguilonius), Pablo Navarro (Atos)
Editing rules
Editorial comments should be highlighted as follows: A comment
Text or rules in discussion (white): Some text
Text or rules already aligned (green): Some text
Text or rules to be deleted (red): Some text
Text to be delivered (blue): Some text
Foreword
This document has been prepared by CEN/WS XBRL, the secretariat of which is held by NEN.
CWA XBRL 003 consists of the following parts, under the general title Improving transparency in financial and
business reporting — Standard regulatory roll-out package for better adoption
— Part 1: XBRL Supervisory Roll-out Guide
— Part 2: XBRL Handbook for Declarers
This CWA is one of a series of related deliverables. The other deliverables are:
CWA XBRL 001 which consists of the following parts, under the general title Improving transparency in
financial and business reporting — Harmonisation topics:
— Part 1: European data point methodology for supervisory reporting.
— Part 2: Guidelines for data point modelling
— Part 3: European XBRL Taxonomy Architecture
— Part 4: European Filing Rules
— Part 5: Mapping between DPM and MDM
CWA XBRL 002 Improving transparency in financial and business reporting — Metadata container
Introduction
This document is intended to provide guidelines to European regulators in the implementation and roll out of
the reporting standard using XBRL across Europe.
The set of recommendations included in this document aim to facilitate the implementation of European
National Supervisors to adopt XBRL in any of the reporting frameworks. The following sections will provide
guidance on the use, understanding, preparation, and extension of their filings in eXtensible Business
Reporting Language (XBRL).
This guidance is in the form of notes in association with the pertaining requirements clause and uses the
terms “should” (recommendation), “may” (allowance) and “can” (possibility). Organizations wishing to
implement this CWA would be expected to consider all recommendations where the term "should" is used.
COREP, FINREP (and Solvency II or other future) XBRL taxonomies are offered to European regulators for
national implementation. The first releases (2006) of the COREP and FINREP XBRL frameworks have proven
that a standardized technical roll-out package is needed to increase the adoption rate and avoid
implementation variances, which have a detrimental effect on the overall cross-border effectiveness of using
one reporting standard. As well this roll-out guide tries to promote the economies of scale for a better
adoption.
Scope
This CWA is a general guide to XBRL oriented towards national regulators on how to implement, extend and
manage XBRL taxonomies. The guidance and recommendations included in this CWA have been created for
regulatory filings in the context of European supervisory reporting.
In this document, “regulatory filings” encompasses authoritative financial reporting standards and generally accepted accounting principles/practices (or GAAP), regulatory reports whose subject matter is primarily financial position and performance and related explanatory disclosures, and data sets used in the collection of financial statistics; it excludes transaction- or journal-level reporting, primarily narrative reports (for example, internal controls assessments) and non-financial quantitative reports (for example, air pollution measurements).
