Acsone presents in Frankfurt its know-how to set-up data analysis for XBRL reports
Each year, XBRL Europe organizes the XBRL week, a conference dedicated to the different XBRL ongoing projects in Europe; this year like the year before, this conference took place in June in the European Central Bank premises, in Frankfurt.
Much more than the latest years, the will for implanting XBRL business reporting in the European Union is palpable. Here are the major European projects that reflect this orientation:
- ECB publishes the SFRDP taxonomy for SUPERVISORY FINANCIAL REPORTING DATA POINTS;
- Single Resolution Board that focuses on resolution planning and preparation with a forward-looking mindset to avoid the potential negative impact of a bank failure on the economy and on financial stability, also uses XBRL technologies to implement its mission;
- France, Ireland, Netherland and Belgium published extensions for Solvency II to cover national specific reporting;
- EBA and EIOPA continue to improve their reporting in order to implement their mandates.
All these institutions share one common taxonomy framework defined by Eurofiling association (see Eurofiling.info).
In parallel, after long studies, ESMA adopts an XBRL strategy, in line with IFRS taxonomy framework. Its initial target is to facilitate the diffusion for an easy reading; this is why it uses inline-XBRL.
The use of XBRL to collect economic data is more and more the paradigm. Netherland, the precursor country for Standard business reporting is now joined by Nordic counties, Sweden, Finland, and Denmark, while Estonia with other countries Eastern countries launches XBRL reporting for accounting.
All these XBRL European projects enhance Acsone strategy to have an XBRL toolbox that supports any taxonomy. The filing and validation processes were Acsone’s first concern. This year our focus is put on diffusion mechanisms. Jean-Paul Daisomont’s presentation in the Academic track demonstrated Acsone new achievements, more particularly the uploading into database XBRL reports related to a large set of taxonomies. For more info, download JP Daisomont’s presentation.
19th XBRL Europe day is
4 days of conference, workshops, academic tracks, more than 70 speakers for an audience of more than 200 experts! This rendered this event of an exceptional quality.
We shared and learned a lot. We are now already in the starting blocks for next year!