XBRL in Europe. Mardi, 6 juin Olivier Servais, XBRL Europe Directeur XBRL Int l l Steering Committee Past Member CESR Transparency CWG Member

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1 XBRL in Europe Où en est-on? Olivier Servais, XBRL Europe Directeur XBRL Int l l Steering Committee Past Member CESR Transparency CWG Member Mardi, 6 juin 2006

2 XBRL AG XBRL France Marid 6 Juin 2006

3 I S C AU Paul Phenix CA Bill Swirsky DE N. Flickinger IASB Kurt Ramin IR Conor O Kelly JP N. Sambuichi NL Jan Pasmooji NZ Mark Hucklesby SP F. Florez UK Chris Rodgers US Dan Roberts KR Tack-Kon Moon W. Hamsher Std Adv. Tom Church Deloitte Mike Willis PwC. M. Koizumi Fujitsu. John Turner Corefiling Mike Bartell FDIC M. Ohata Microsoft Liv Watson Edgar Online Board of Advisors T. Krantz WFE J-M Roldan BoS & past CEBS D. Nicolaisen past SEC C. Cunningham - FEI Guy Weyns Morgan Stanley M. Vaish Dun & Bradstreet J. Fallows - Atlantic magazine E. Watanabe Tokyo Shoko Res. J u r i s d AU CA DE IR JP NL NZ KR SP UK US IASB BE DK FR PL SA SE UAE M e m b e r s Commercial companies : Audit firms, Consulting companies, Software vendors (Global ERP Specialized), Banks, Stock exchanges Non-profit organizations : Accountants, Securities Exchanges, Banks, Analysts Public authorities : Banking supervisors, Balance sheet offices & central banks, Securities regulators, Statistical agencies, Tax authorities

4 XBRL en Europe Juridictions en juin 2006 A maturité Ireland Germany Spain The Netherlands United Kingdom En apprentissage Sweden Belgium Denmark France Poland En construction Italy Luxemburg Greece Portugal Turkey Switzerland En projet Austria, Hungary, Finland, Norway XBRL AG XBRL France Marid 6 Juin 2006

5 XBRL International Governance ISC Representatives At Large Representatives Board of Advisors Chairman Thomas Krantz World Federation of Exchanges (WFE) Executive Committee (7 members) Walter Hamscher Michael Ohata Open Mike Willis Makoto Koizumi Open International Steering Committee Chair Kurt Ramin John Turner Mike Bartell Liv Watson 1 st Vice Chair Bill Swirsky Established Jurisdiction Representatives AU Paul Phenix CA Bill Swirsky IR Conor O Kelly JP Nobuyuki Sambuichi SP Federico Florez UK Chris Rodgers 2 nd Vice Chair Michael Ohata Immediate Past ISC Chair Vacant DE Norbert Flickinger IASB Kurt Ramin NL Jan Pasmooji NZ Mark Hucklesby US Dan Roberts KR Tack-Kon Moon ISC Members Federico Florez Provisional Jurisdictions BE DK FR PL SA SE UAE appoints elects after term expires

6 ISC International Steering Committee Objective: Ultimately charged with the responsibility of considering and approving the release and publication of certain key documents and pronouncements (particularly recommendations) What is XBRL Standards Board? Purpose : To actively manage the production and finalisation of stable, high quality, interoperable specifications and other supporting technical materials 3 Members: Architecture (XML and XBRL experts) in support of XBRL-based business reporting In practical : Initial XSB Part-time XBRL Standards Board 7 Members (annual terms), maximum 3 from ISC of of which one is is Chair of of XSB Putting appointment the bridge between the Consortium and the users Accountable to ISC Permanent (standing) Chair 2 Members: Business Reporting Experts 1 Member: Product Management Technical Working Groups Chair : Michael Ohata XII Vice-Chair At Large Members Members : The Vice International Chair Steering Committee seeks Vice Chair nominations for the Members Objective: Create XBRL technical intellectual property After 1 st year (if necessary) open seats. Statements are due by 1 May to Tracey Temporary (ad hoc) Chair Members 1 Member: Program Management Initial appointment appoints XBRL AG XBRL France Marid 6 Juin 2006 proposes documents for approval confirms selection and appointments charters and disbands monitors compositions elects selects

7 XBRL AG XBRL France Marid 6 Juin 2006

8 Borsa Italiana view of XBRL Borsa Italiana s vision concerning XBRL Listed comps Adobe Intelligent Form (pre-defined) Excel (predefined) XBRL instance builder The instance document could also be sent to: Listed company s website Info vendors Media Regulators NIS Borsa Italiana public website Errors msgs XBRL validator DBMS XML XBRL Borsa Italiana

9 XBRL AG XBRL France Marid 6 Juin 2006

10 CBSO Project - Process Software package PDF Taxonomy Instance document Upload XBRL files XBRL Sofista Validator Database 10

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12 XBRL Stockholm Wednesday 26 April 2006

13 XBRL AG XBRL France Marid 6 Juin 2006

14 There is no doubt that the European Commission will continue to lend its support through its heartfelt endorsement of your efforts, in particular towards making XBRL a helpful tool in designing and implementing a harmonised European reporting system. We wish to stress how vitally important XBRL is to business reporting in Europe. Gérald Santucci European Commission Head of Unit ICT for Enterprise Networking XBRL en France - Paris Mardi 17 janvier 2006 XBRL in Europe

15 Above all, continue with your enthusiastic contributions to the global development of the XBRL standard. As I said at our last XBRL Conference in Tokyo: Have no doubt, you are changing the world for the better Chairman Christopher Cox, U.S. Securities and Exchange Commission San Jose, California, Jan. 18, 2006 XBRL en France - Paris Mardi 17 janvier 2006 XBRL in Europe

16 Washington, D.C., May 23, Four months after offering significant new incentives for companies to furnish their financial information in computerreadable interactive data format, the Securities and Exchange Commission announced today that the list of participating firms has grown to 20. Interactive data holds the promise of transforming the static, text-only documents companies furnish with the SEC into dynamic financial reports that can be quickly and easily accessed and analyzed by millions of users. The growing number of participants was boosted by the addition of three new companies announced today: General Electric Company; PepsiCo, Inc.; and Banco Itaú Holding Financeira S.A. XBRL en France - Paris Mardi 17 janvier 2006 XBRL in Europe

17 It seems to me that we might be approaching this from the wrong end. Instead of talking about all the gizmos that will make markets work better and give investors better tools than they have today, we ought to be starting with the reasons that interactive data will make the lives of investors, companies, and even regulators better. Watchmakers, after all, do not sell their products by talking about tachometers and rotors. They tell you that their watches keep perfect time. You don't have to know anything about movements to be able to tell time - and to know that it's always better if your watch hasn't stopped before an important appointment. With interactive data, the parts and internal movements can be daunting, but the result is to make investing easier and better for the individual and for the market as a whole. XBRL en France - Paris Mardi 17 janvier XBRL in Europe

18 CESR & XBRL Our recommendation CESR should consider XBRL as The standard for regulated information exchange CESR should start an internal XBRL task force,, with support from XII/XEU CESR should provide an IFRS-based taxonomy (& consider maintainance) to the local securities regulator (CEBS COREP model) CESR should start training (CEBS COREP/FINREP model) for implementation & taxonomy extensions XBRL AG XBRL France Marid 6 Juin 2006

19 CESR & XBRL But why? Because of all the advantages : free, unique, mature, savings Because of the market is waiting for a clear message Because the SEC is already providing such a clear message Because there is nothing hidden (including cost) Because there is no risk And because there is no reason for not-doing it anymore, and Because we are here to ask it XBRL AG XBRL France Marid 6 Juin 2006

20 Merci! Pour les aspects business : olivier.servais@xbrl-eu.org Pour les aspects techniques: ihr@xbrl.org XBRL AG XBRL France Marid 6 Juin 2006