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Assurance for Digital Reporting

Workshop 2.1.1

November 15, 2006

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Assurance for Digital ReportingYour panel’s challenge:

• Regulators and the public – digital information will have the same assurance and integrity as today’s paper

report.– If assurance is not provided, it could hinder the adoption of digital reporting as

a tool for electronically exchanging information. – If the accounting profession is not able to provide assurance, other parties

could step in. • Regulators

– demanding auditors to provide assurance on electronic filings of financial statements.

• Governments– are asking the profession to deal with audit and assurance issues related to

electronic filings and provide the assurance needed by users. • Additionally,

– XBRL, can facilitate a more efficient and effective audit by providing a consistent method of capturing and interrogating business information. This not only enhances audit delivery but also creates new service opportunities.

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Assurance for Digital Reporting

Your panel:Jan Pasmooij – Netherlands

– Royal NIVRA• Manager IT Knowledge Centre• Chair IIN

– Chair XII-XBRL_Assurance Working Group<AWG>

Christian Dreyer – Switzerland – – Tertium datur AG

Jim Sylph – USA-Canada – Executive Director _Professional Standards- IFAC

Your chair Bill Swirsky – Canada –

– Vice President – CICA– Chair XBRL_Canada– Vice-Chair XBRL_International

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Assurance for Digital Reporting

Bill Swirsky _ Canada– Opening comments on XBRL and the Challenge to the Panel

Jan Pasmooij – Netherlands – Issues of technology – XBRL– Challenges to assurance – technology’s realities– Call for action

Christian Dreyer – Switzerland – what the users want– what the users assume

Jim Sylph – IFAC/IAASB– the standards setters agenda – responding to a call to action?

Open discussion from the floor• Are there questions? Concerns?

Bill Swirsky – Canada • closing comments- CICA

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• XBRL International

– Assurance Working Group• Chair – Jan Pasmooij• Vice- Chair – Bill Swirsky

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Organizational ResourcesOrganizational Resources- StaffStaff

- Subject matter consultantsSubject matter consultants

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FactsFacts Definition, Content, and Definition, Content, and PresentationPresentation

ReportingReporting

Cash and Cash

Equivalents

$35,000 <cust:CashCashEquivalents

decimals="0" contextRef="End2004" unitRef="CAD"> 35000 </cust:CashCashEquivalents>

XBRL XBRL InstanceInstance

XBRL XBRL TaxonomyTaxonomy<element

name="CashCashEquivalents" id="cust_CashCashEquivalents" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>

<xsl:for-each select="//cust:CashCashEquivalents"> <xsl:if test="@contextRef[.='End2004']"> <xsl:value-of select="format-number(current(), '###,###')"/> </xsl:if></xsl:for-each>

XSLT Style SheetXSLT Style Sheet

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The corporate reporting supply chain

ExternalFinancialReporting

BusinessOperations

InternalFinancialReporting

Investment,Lending,

RegulationProcesses Economic

Policymaking

Participants

AuditorsTradingPartners

Investors

FinancialPublishersand Data

Aggregators

Regulators

Software Vendors

ManagementAccountants

Companies CentralBanks

XBRLExternal Reporting

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The corporate reporting supply chain

ExternalFinancialReporting

BusinessOperations

InternalFinancialReporting

Investment,Lending,

RegulationProcesses Economic

Policymaking

Participants

AuditorsTradingPartners

Investors

FinancialPublishersand Data

Aggregators

Regulators

Software Vendors

ManagementAccountants

Companies CentralBanks

XBRLExternal Reporting

C-Suite. CEO. CFO

Auditors

Capital Markets•Regulators• Analysts•Investors

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Assurance for Digital Reporting

And now to your panel ofAnd now to your panel of

• TechnologistsTechnologists

• ExpertsExperts

• Commentators ….Commentators ….