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Transaction level standardization – Linking TALTIO and Audit data file
RTE-seminar 11.5.2017, Elina Koskentalo
Is to have a common language and understanding of data
Semantic level of standardization
Syntactical and format level of standardization
Standardization
10.5.2017 TIEKE Tietoyhteiskunnan kehittämiskeskus ry 2
Entries in
XBRL GL
format
Encoding
of entries
Regulatory
filings
Auditing
General Ledger
(SBR code set)
• automation of accounting processes
• Interoperability between systems
• Streamlines XBRL-based reporting(internal and external)
• Audit trail from financial statementsto accounting entries
• Automated auditing
TALTIO (XBRL GL) as enabler
Examples of the expressional power of TALTIO (XBRL GL)
Customer Order Entry/Processing
Purchase Order Processing
Job Costing
Payroll
Fixed Assets
Inventory Management
Accounts Payable/Vendor Management
Accounts Receivables/Customer Management
Bank Management-Check/Cheque Reconciliation
General Ledger
2017-03-03
4
Based on extensive research and development work of different standards
Real-Time Economy program (five projects from 2006) and TARU project
From paper to digital, real-time information
Standard business reporting (SBR) code set
Harmonizing regulatory reporting requirements
Structural electronic business reporting (XBRL)
Automating financial reporting
Release of TALTIO taxonomy (XBRL GL)
Standardizing of transactional data
TALTIO-project
Standard development, eReceipt, system integration and new accounting service design
2017-03-03
5
Information
Storage
Standardized data archives
External reporting tools
Customer user interface
Accounting software
Sales
applications
Inventory system
Data sourceseInvoice
eReceipt
Bank statements
Other structural business
documents
TALTIO as an enabler for new kind of interoperable ecosystems
2017-03-03
6
Payment
applications
Benefits
Businesses Better services from real-time information New and better quality information for business processes More efficient usage of ICT Diminishing the administrative burden
Software and service providers Easier customer acquisition and new business opportunities New service innovations
Government Real-time quality information -> Better decisions Continuous automated auditing & economical transparency
- > fight against black economy
2017-03-03
Nordic Smart Government WP2 - TALTIO Proof-of-Concept 7
ISO/PC 295 Audit data collection
Specification for auditors to obtain accounting data
content and format requirements of accounting data elements
data interface output files
XBRL GL as a candidate for one of the output files
18 participating countries and 22 observing ones
Committee draft (CD) in July 2017
10.5.2017
8
Standards boost business
Let’s make it happen for accounting and the usage of ICT what containers did for world trade!
10.5.2017 TIEKE Tietoyhteiskunnan kehittämiskeskus ry 9
Thank you!
Elina Koskentalo
www.tieke.fi
www.xbrl.fi
10.5.2017 TIEKE Tietoyhteiskunnan kehittämiskeskus ry 10
