XBRL week

Our key takeaways

Castiaux, Jean-Christophe*

XBRL Week in Brussels

Our key takeovers

The XBRL Europe event took place in Brussels from 24 to 26 November 2014, in the premises of the National Bank of Belgium.

This event is organized twice a year by XBRL Europe and gives XBRL community stakeholders (European and national regulators, software vendors, consultants, users) a chance to meet their European counterparts and to share their expertise.

The Digital Agenda for Europe has been presented by the European Commission. It mainly includes the implementation of the different regulations for the banking and insurance sector, the capital markets and the public finance.

The three European supervisory authorities, namely the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA) have drawn their agendas for the coming years. They presented the latest advancements in the definition and implementation of their respective taxonomies. No significant delays have been reported. This means that especially for the insurance companies a lot of work has to be implemented before the 1st January 2016. Starting from that day, the national supervisory authorities will report to EIOPA by mean of XBRL files exclusively.

XBRL International, mainly represented by John Turner, its CEO, gave an insight about the ongoing standardisation and education efforts. Most importantly, a common body of knowledge is being prepared in order to promote the usage of XBRL worldwide.

Acsone followed especially the technical tracks such as the development of T4U, a tool designed by EIOPA to help the market take-up XBRL. Gregorio Mongelli and Jean-Paul Daisomont met Herm Fischer, the responsible for the open source Arelle project (Arelle.org), in order to increase the collaboration for improving Arelle.

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