'XBRL Update: Mandatory Electronic Filing Coming Soon'
Presentation 22nd April 2009
eXtensible Business Reporting Language ("XBRL"), is the language of electronic financial reporting. It is increasingly being used by Regulators around the world and it is coming to Ireland within the year. Please find below links to speaker presentations from our briefing 22nd April. The presentations give an overview of XBRL developments around the world, the project at the Companies Registration Office in Ireland and an update on the filing of information with the SEC in the US which is mandatory for large companies from this coming Summer.
Click on below bullet points to access presentations:
Programme:
1. Introductions - Learn more about XBRL Ireland Steering Group - Richard Day, Chairman BRIL
2. International Developments - Conor O'Kelly, XBRL International Board of Directors
The pace of growth of XBRL around the world is increasing and Conor, as our representative on the International Steering Committee and the board of directors provides a report on progress at the international organisation. Conor delivers a brief world tour of XBRL progress and give us an insight into upcoming developments.
3. Domestic Developments CRO Case Study: Theresa Fitzpatrick, Assistant Registrar, CRO
The Companies Registration Office is carrying out the detailed work that is required in order to be able to accept XBRL financial statements as part of a company's requirement to file their annual return and financials. This involves being able to accept these documents electronically and render them for any member of the public to be able to request a printout of the filed financials. Theresa is responsible for this project and provides information on this project covering the impetus for its implementation, the current state of plan and future plans.
4. SEC Filing & IFRS - Implications for Irish Business - Richard Day, Chairman BRIL
Richard provides an update on the electronic filing programme that is mandatory for large US companies from this summer and will reach smaller companies over the following two to three years. He highlights the likely impact on the Irish entities related to these US Companies. Richard also covers the status of XBRL and IFRS, show what the accounts of an Irish Plc looks like in XBRL and describe the process of producing these XBRL financial statements.
Speaker Profiles:
Richard Day FCA, PricewaterhouseCoopers Partner, is chairman of Business Reporting Ireland Limited the Irish jurisdiction of XBRL.org and chairman of the IT Services Committee in the Institute of Chartered Accountants in Ireland. He provides systems, process and data assurance and specialises in financial reporting processes. Richard has been involved with XBRL for more than 5 years and contributes to some of the technical committees within the global organisation.
Conor O'Kelly FCA, has served two terms as 1st Vice Chairman of XBRL International and a member of the XBRL International Board of Directors. He is the past Chairman of XBRL Europe, the consortium of European XBRL Members, past Chair of XBRL Ireland and represents Ireland on the International Steering Committee of XBRL International. He is a Fellow of the Institute of Chartered Accountants in Ireland with an MSc in IT Management . He has twelve years background in global IT managed services outsourcing, global project management and strategic IT business planning with Hewlett Packard and Ericsson.
Mr. O'Kelly is a past member of Council of the Institute of Chartered Accountants in Ireland.
Theresa Fitzpatrick, Assistant Registrar of Companies has been on the XBRL Steering Committee since January 2003 and has responsibility for electronic filing in the Companies Registration Office. Theresa's presentation covers the CRO pilot project for the filing of XBRL statutory financial statements, the impetus for its implementation, current state of play and future plans.
For more information please visit: www.xbrl-ie.org