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16 th XBRL International Conference

16 th XBRL International Conference. “Convergence, Communication and Interactive Data” December 3 rd to 6 th , 2007 Vancouver, British Columbia, Canada. International Public Sector Working Group (IPSWG): Plans and Priorities. Wednesday, December 5 th , 2007 – 16.45 to 17.15

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16 th XBRL International Conference

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  1. 16th XBRL International Conference “Convergence, Communication and Interactive Data” December 3rd to 6th, 2007 Vancouver, British Columbia, Canada

  2. International Public Sector Working Group (IPSWG): Plans and Priorities Wednesday, December 5th, 2007 – 16.45 to 17.15 Presented by Don Geiger, Michał Piechocki, and Robert Walters

  3. The Reason For Being • The observed need for the establishment of a process/avenue for public sector agencies to gain education and knowledge of the XBRL taxonomy development process and provide a due diligence process environment for the establishment and vetting of public sector taxonomies, in collaboration with governmental accounting standard setters.

  4. The ‘Purpose’ of the IPSWG • IPSWG was established to provide a forum for discussion of relevant XBRL issues related to business reporting within government agencies. • It will enable members to provide input and participate in discussions and working groups with respect to: • Development and implementation of an IPSAS taxonomy/extension; • Instance document creation; • Rendering capabilities; and • XBRL-GL (IFRS) capabilities.

  5. The Scope of Work • The XBRL Standards Board (XSB) of XBRL International has authorized the IPSWG to carry-out duties related to research, analysis and recommendations on a wide range of XBRL issues connected to: • The adoption of public sector XBRL projects; • Taxonomy development; and • Education of interested parties.

  6. In Other Words… • The work of the IPSWG will include education and training suitable for public sector focused individuals and organizations. • The group will work to establish XBRL taxonomies specific to public sector financial reporting. • IPSWG will also provide implementation guidance for public sector organizations interested in XBRL.

  7. Sub-Groups • Taxonomy • Development of a taxonomy based on IFRS and incorporating IPSAS standards • Capable of being leveraged further for national and local extension requirements • Education • Presentation and documentation material to aid public sector discussions on the benefits of XBRL • Sharing of best practices across jurisdictions • ex. XBRL as a solution for internal reporting needs

  8. Planned Deliverables • XBRL implementation guidance for public sector entities – 1st quarter 2008 • Establishment of IFRS public sector extension taxonomy (a.k.a. IPSASB taxonomy) 1st draft – 3rd quarter 2008 • XBRL training for public sector – expectation is to have a session at each international conference or as requested • Coordination with standard setting organizations (IFAC, Audit Assurance, United Nations, IASB, etc) • IFRS coordination process – 2nd quarter 2008 • IPSAS taxonomy translated to other languages (Spanish, French, etc.) – 2nd quarter 2009

  9. Meeting Schedule • IPSWG holds monthly conference calls on the 3rd Thursday of each month (next - December 20th) • 13.30 – UTC/GMT/Zulu • 09.30 – EST (Ontario) • 14.30 – BST (UK) • 06.30 – PDT (Nevada) • 15.30 – CEST (Poland/France/Netherlands) • 22.30 – KST (Korea) • 10.30 – ADT (Argentina) • Sub-group meetings are scheduled as necessary

  10. How to Join the Fun! Send an e-mail to: publicsector@xbrl.org or Go to: www.xbrl.org/IPSWGCall

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