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XBRL for Statistical Reporting. Giuseppe Sindoni Eurostat Statistical Information Technologies. Eurostat and the European Statistical System. Network of national institutions and agencies Co-ordinated by Eurostat European Commission Directorate General European Union Statistical Authority - PowerPoint PPT Presentation
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XBRL for Statistical Reporting
Giuseppe Sindoni
Eurostat
Statistical Information Technologies
Eurostat and the European Statistical System
• Network of national institutions and agencies• Co-ordinated by Eurostat
– European Commission Directorate General– European Union Statistical Authority
• Tasked with providing a high quality statistical information service
• 1000 data providers to Eurostat– No data collection directly from enterprises – Coordination role in primary data collection
• More than 100 committees, working groups and expert groups
Harmonisation & Methodology
• EU Regulations and Agreements• Code lists, nomenclatures• Reporting tools, services and standards
– National raw data– Aggregated European data
• Latest technologies– Internet, Web-forms– XBRL?
Co-ordination• Accounting & Statistics Task Force
– IAS/IFRS
• Collection of Raw Data Task Force (CORD)• (UNECE Task Force on Electronic Data Reporting)
– Data reporting technologies
• Projects– National – Commission funded
• XBRL
XBRL2004: preliminary analysis
• Feasibility analysis to a project: extraction of statistical data from XBRL reports– Success depends on
• Availability of GAAP taxonomies• Widespread use of the IFRS taxonomy
– Statistical extensions needed in both cases– Extensions to be coordinated within the ESS– Strong appetite among financial institutions– A pilot project feasible for extraction of raw economic data
by NSIs
Financial frameworkThe X-DIS project
• XML for Data Interoperability in Statistics• Funded by EU programme IDABC:
– Interoperable Delivery of European eGovernment Services to public Administrations, Business and Citizens
• Total budget: – 3,75 M€ for budget years 2005->2008
• Operational timeframe: – Q4 2005 -> Q2 2009
• 675.000 € to pilots and studies on XBRL and other sectoral standards for data exchange
• Framework contract for this line of work awarded to Software AG
• First specific contract started end of March 2006
Objectives of the pilot project
• Test:– Efficient use of XBRL in the statistical reporting
chain– Chances of widespread acceptance by enterprises
and institutions• Focus on
– Reporting by enterprises to NSIs• Not on
– Reporting by NSIs to Eurostat
Analysis tasks
• Mapping of existing taxonomies– Inventory of relevant ones– Mapping to statistical legislation
• Monitoring of XBRL developments– Avoid duplications of efforts– Exploring possibility for synergies
Development tasks• Creation of a statistical taxonomy
– Is it useful and desirable?– One omni-comprehensive taxonomy or one for
each domain (STS, BoP, etc.)?– Modular and extensible by member states
• Test phase– Live environment (2-3 NSIs)– Suitable enterprise samples– Pipelining with SDMX
Tasks on future implementation• Acceptance
– Define if and how to make it operational in enterprises
– Specific organisation aspects (burden, investments, etc.)
• Advanced use of XBRL in surveys by NSIs– A single-source concept for financial and statistical
data will increase the statistical quality
Current state• 2-3 institutions to be “active members” in the
Task Force– Statistical Institutes of BE, ES, NL + Bank of Spain– Focus on Structural Business Statistics (SBS)– Lack of companies already reporting in XBRL (!)
• Project just started– Inventory of relevant taxonomies– Mapping to statistical regulations– Test phase June – September 2006