IntervencióN Xbrl Spain Paris 09 Smh

1Paris – 22nd June, 2009

Sebastián MurielPresident (XBRL Spain) http://www.xbrl.es

General Manager (red.es) http://www.red.es

International Steering CommitteeSpanish Jurisdiction

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• Spain is considered to be ahead of the XBRL development due to the efforts fulfilled by the public and private sector.

• The Public Organizations and Regulatory Councils which have lead the establishment of XBRL in Spain are:

-Bank of Spain

-CNMV: National Share Market Commission

Bank of SpainCNMV

XBRL in Spain: Strategy

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• Traditionally, business that have been more active in XBRL are the most regulated sectors, especially the companies listed on the national stock exchange:

-All the companies included in the IBEX 35 index report their quarterly statements using XBRL to the CNMV since July 2005

-Most of the Spanish private banks use XBRL for their reporting. e.g. SCH, BBVA, Banco Popular, Caja Madrid, etc.

Bank of SpainCNMV

IBEX 35Financial Institutions

XBRL in Spain: Strategy

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• So far, major economic institutions and main financials companies have boost/encouraged the initiative of the XBRL implementation.

• There is an opportunity to move the experience of XBRL into:

-Local Government

-Small and Medium enterprises (SMEs)

Banco de EspañaCNMV

IBEX 35Financial Institutions

SMEs

Local

Government

XBRL in Spain: Strategy

• Red.es is a government owned company assigned to the Ministry of Industry, that works closely with the public and private sector, in order to achieve the development and promotion the non-discriminatory use of the Information Society in Spain

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The spanish public administration framework

17 Regional Governments

2 Autonomous cities

50 Provinces

8.107 Local Entities

Banco de EspañaCNMV

IBEX 35Financial Institutions

SMEs

Local

Government

PUBLIC PROMOTION ON MASSIVE XBRL USE FOR LOCAL GOVERNMENT

FINANTIAL REPORTING

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XBRL in local budget reporting

http://www.e-local.es

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XBRL in local budget reporting

12%

5%

83%

14%

20%

66%

5%

57%

38%

Web form

Excel

XBRL

2008

2006 2007

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New GAAP (PGC 2007)

• On February 10th, it was published in BOE JUS/206/2009 the order on the presentation of annual accounts under the new GAAP (PGC 2007)

Banco de EspañaCNMV

IBEX 35Financial Institutions

SMEs

Local

institutions

• It is mandatory to use XBRL as the STANDARD FOR DIGITAL PRESENTATION OF FINANCIAL STATEMENTS

• Either through physical presentation on computer records in the telematics business presentation or by electronic signature

• We have developed open source APIs for main ERPs that are used by most of SMEs in Spain (INTECO – Ministry of Industry) (both java and command line)

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New GAAP (PGC 2007)

http://www.pgc2007.info/http://www.inteco.es/Calidad_del_Software/ /descargas/api_xbrl_pgc2007/

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Financial entities

Mercantile Register

FINANCIAL STATEMENTS

Now

PGC 2007

Balance

The financial statements are generated one time in the same format (XBRL)

SMEs

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CSR with XBRL

CSR (Corporate Social Responsibility) lacks

of a minimum of clarity, is too industry-specific and the format in which

it is based is not suitable to comparisons

A double solution:–Semantic agreement–Digital format

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CSR with XBRL (taxonomy)

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CSR with XBRL: 1st real example

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XBRL in Latin America

• The Spanish Ministry of Foreign Affairs has approved the application for XBRL Spain to lead a training course in XBRL with the AECID (Spanish Agency for International Development) in La Antigua (Guatemala)

•On-line course of Interactive Data for Financial Supervision: this course is aimed at providing introductory knowledge on interactive data in XBRL language and its applications for financial sector supervision

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Thank you !! .. any questions ??

XBRL [email protected]

Tef (+34) 91 212 76 20 ext. 4328

Fax: (+34) 91 555 77 76

Plaza Manuel Gómez Moreno,

Edificio Bronce, 7ª Planta

28020 Madrid