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Assurance for Digital Reporting Workshop 2.1.1 November 15, 2006

This workshop discusses the challenge of providing assurance for digital reporting, and its impact on the adoption of electronic information exchange. It explores the role of regulators, auditors, and the accounting profession, and the opportunities created by XBRL. Experts from Netherlands, Switzerland, and USA-Canada share their insights.

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Assurance for Digital Reporting Workshop 2.1.1 November 15, 2006

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  1. Assurance for Digital ReportingWorkshop 2.1.1November 15, 2006

  2. Your 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. Assurance for Digital Reporting

  3. 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 Assurance for Digital Reporting

  4. 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 Assurance for Digital Reporting

  5. XBRL International Assurance Working Group Chair – Jan Pasmooij Vice- Chair – Bill Swirsky

  6. Standards Board (XSB) Governance Board of Advisors • Organizational Resources • Staff • Subject matter consultants

  7. Facts Definition, Content, and Presentation Reporting XBRL Taxonomy XBRL Instance <element name="CashCashEquivalents" id="cust_CashCashEquivalents" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/> <cust:CashCashEquivalents decimals="0" contextRef="End2004" unitRef="CAD"> 35000 </cust:CashCashEquivalents> XSLT Style Sheet <xsl:for-each select="//cust:CashCashEquivalents"> <xsl:if test="@contextRef[.='End2004']"> <xsl:value-of select="format-number(current(), '###,###')"/> </xsl:if> </xsl:for-each> Cash and Cash Equivalents $35,000

  8. Companies Financial Publishers and Data Aggregators Investors Central Banks Participants Trading Partners Auditors Regulators Management Accountants Software Vendors The corporate reporting supply chain XBRL External Reporting Business Operations Internal Financial Reporting External Financial Reporting Investment, Lending, Regulation Economic Policymaking Processes

  9. Companies Financial Publishers and Data Aggregators Investors Central Banks Participants C-Suite . CEO . CFO • Capital Markets • Regulators • Analysts • Investors Trading Partners Auditors Regulators Management Accountants Auditors Software Vendors The corporate reporting supply chain XBRL External Reporting Business Operations Internal Financial Reporting External Financial Reporting Investment, Lending, Regulation Economic Policymaking Processes

  10. And now to your panel of Technologists Experts Commentators …. Assurance for Digital Reporting

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