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XBRL Versioning for IFRS Taxonomy

XBRL Versioning for IFRS Taxonomy. 22 June 2009, FINREP Haiko Philipp. March 2009. 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org. Agenda. Versioning at the IASCF Versioning specification Versioning report syntax / semantics

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XBRL Versioning for IFRS Taxonomy

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  1. XBRL Versioning for IFRS Taxonomy 22 June 2009, FINREP Haiko Philipp March 2009 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  2. Agenda Versioning at the IASCF Versioning specification Versioning report syntax / semantics Versioning approach for the IFRS Implementation aspects Challenges and next steps 2 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  3. Versioning at the IASCF 3 • Background: annual update of the IFRS Taxonomy resulting from the changes in the written Bound Volume of IFRSs • Enhancements to the change management and its standardized communication necessary • Discussions about versioning at IASCF since 2004 • Resulted in a prototype presented in 2006 • Prototype and feedback on it were input for the versioning WG 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  4. Versioning at the IASCF 4 • Project objective: enhance change management • IFRS Taxonomy consumers: • More transparent development process (easier comparison) • Represents taxonomy developer view on the changes (explanation of changes) • Enables grouping and filtering of changes • Software developers • Standardized way of communication of taxonomy changes (former proprietary software) • Possibility of automated consumption of versioning report • Enables statistics • XBRL tools: • Better workload estimation while migrating between taxonomy releases • Semi-automated integration of new taxonomy release 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  5. Versioning specification • XBRL Versioning Specification is an extension of the base specification for XBRL 2.1 • Versioning specification currently a Public working draft – syntax may change • On the way towards candidate recommendation (last call for comments from XSB) • Versioning report published for IFRS Taxonomy 2008 –> 2009 on 28 April 2009 • Based on the Public Working Draft from 04 February 2009 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  6. Versioning specification • Purpose of the versioning report is to document differences between two taxonomies • Interest in semantic changes rather than syntactical changes • Benefits / advantages • Users should better understand changes made • Tracking / documenting changes by taxonomy developer • Enable automated processing - XBRL is used in production today • Taxonomy extensions development • Tools using taxonomy or its extensions 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  7. Versioning report syntax / semantics • Versioning report is divided into three major building blocks • Categories: classification of an assignment • Default categories: Errata, business, technical • Assignments: represent a versioning task • Enable documentation through labels and references • Enable classification through links to categories • Enable breakdown into individual actions • Actions: represent one or more changes using single or combined events 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  8. Versioning report syntax / semantics • Events on relationships • Relationship add • Relationship delete • Relationship next • Relationship previous • Relationship add-attribute • Relationship delete-attribute • Relationship change-attribute • Events on resources • Resource add • Resource delete • Resource value • Resource role • Resource add-attribute • Resource delete-attribute • Resource change-attribute • Resource add-child • … • Events on concepts • Concept add • Concept delete • Concept name • Concept type • Concept substitution group • Concept period type • Concept add-attribute • … 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  9. Versioning report syntax / semantics Versioning report Generic label linkbase (documentation) Category:errata Assignment: myTask link:locator gen:arc Action: myAction label:label Event: Concept Add … Event: concept delete Event: resource value … 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  10. Versioning approach for the IFRS • Where are IFRS Taxonomy changes coming from? • Physical / structural changes • Changed file and folder names, updated namespaces, role URIs • New technologies: XBRL dimension (new schema definitions) • Semantic changes • Updated, deleted and new IFRSs • Taxonomy improvements (typos, reference updates,...) 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  11. Versioning approach for IFRS • Versioning report for IFRS • Categories: use default categories only • Default categories: errata, business, technical • Assignments: objective is keep assignments stable over a period of time • Definition of major tasks like “OutOfDateIFRSs”, “WordingImprovements”, … • Actions: focus on concepts (one Action per one concept) • Concepts are currently crucial for stakeholders 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  12. Versioning approach for IFRS Versioning report Linkbase (documentation) Category:businessCategory Assignment: OutOfDateIFRSs Link:locator Gen:arc Action: del_BusinessSegments label:label Event: concept delete Action: del_DisclosureOfSegmentReportingExplanatory Out of date IFRSs Event: concept delete 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  13. Versioning approach for IFRS • Versioning report approach used for IFRS: • Light versioning report • Comprehensive versioning report • Reasons for providing two versioning reports • Identification of two major groups of stakeholders • Requesting an overview of major changes in the taxonomy • Implement the IFRS Taxonomy into their software and requiring detailed list of changes • Human readable visualization of light report 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  14. Versioning approach for IFRS • Light version report (basic changes for concepts) • Concepts added: 201 [concept add event] • Concepts deleted: 152 [concept delete event] • Concepts renamed: 194 [concept name event] • Comprehensive version report (basic changes for concepts + detailed changes for concept attributes and resources) • Basic changes (all basic changes for concepts) • Changed attributes • Added, deleted, corrected labels • Added, deleted references • Current approach does not document changes in presentation-, calculation- and definition linkbases 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  15. Implementation aspects Raw versioning report Create raw versioning report XBRL Processor XBRL versioning report Versioning stylesheet Configure versioning stylesheet • Set documentation path • Definition categories • Definition assignments • Create namespace mapping • Create role mapping • Run XBRL processor • Set path from/to DTS • Define mapping rules (actions-assignments) 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  16. Implementation aspects • Based on XSL stylesheets & XBRL processor • Semi-automatic process • Manual • Namespace mapping • Definition of assignments + corresponding documentation • Definition of the rules (assignment – action mapping) • Automatic • Recognition of actual change • Grouping of actions by concepts • Applying defined rules 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  17. Implementation aspects • Current mechanism is able to version any taxonomy (not IFRS specific) with minor adjustments to the stylesheet • Current IFRS concept naming convention does not allow recognition of renamed concept on pure basis of XBRL attributes (this applies only to taxonomies introducing renaming of concepts) • Introduction of a non XBRL attribute @info:creationID for IFRS Taxonomy concepts which is stable over releases • Enables identification of added, removed and renamed concepts even if @name and @id are changed • Detailed comparison on concept attributes, relationships and resources is done on the basis of @info:creationID attribute 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  18. Challenges and next steps • Versioning of presentation, calculation and definition linkbases • Dimensional versioning - improve current versioning specification through documenting dimensional changes (not supported by current spec) • Ex-ante vs. ex-post explanation of changes • Syntax changes in the specification • Lack of clear understanding of versioning usage in the market (documentation vs. automated change log vs. migration tool) • Lack of software that support versioning • Physical/structural aspects of migration (changes to file and folder names, namespaces, URIs, web locations, etc.) 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  19. Challenges and next steps • Improve current versioning mechanism implementing documentation for relationship changes (presentation-, calculation-, definition linkbase) • Constantly feedback to versioning WG • Consider requirements for dimensional versioning if IFRS Taxonomy architecture changes • Expand versioning discussion with ITA and TAWG to agree on best practices • Improve market understanding of versioning 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  20. Questions? March 2009 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  21. Versioning report syntax / semantics • Concept abstract • Concept block • Concept balance • Concept default • Concept fixed • Concept final • Concept add-attribute • Concept delete-attribute • Concept change-attribute • Concept add-child • Concept delete-child • Concept change-child • Events on concepts • Concept add • Concept delete • Concept no-change • Concept namespace • Concept name • Concept type • Concept substitution group • Concept period type • Concept nillable 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

  22. Versioning report syntax / semantics • Resource delete-child • Resource change-child • Events on resources • Resource add • Resource delete • Resource no-change • Resource value • Resource role • Resource add-attribute • Resource delete-attribute • Resource change attribute • Resource add-child 2009 IASC Foundation  |   30 Cannon Street  |   London EC4M 6XH  |   UK  |   www.iasb.org

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