XBRL Congress in Rome Summary – Reporting Standard

First of all, it was a pleasure to assist to the XBRL Congress in Rome staged by XBRL Europe; we, from Reporting Standard, want to thank to everyone who meet there all the keypoints and suggestions.

We have made a quick summary with our impressions and reflections:

XBRL Congress in Rome

  • SBR (Standard Business Reporting) coordinated by Frans Hietbrink XBRL NL. 
    • 4 proposed subjects for discussion regarding a cross-domain approach to the exchange of data:
      • Developing an ecosystem of taxonomies.
        • In this point, the ponent made an analysis of the taxonomy state in the different countries.
        • In addition, there was a discussion about the way in which the standard is currently being built to have the capacity to integrate the needs of each country in the same European Standard.
      • Implementation of Assurance and Audit Report regarding digital data.
        • iXBRL.
        • We dealt with the ways of facing the challenges that supposes, for the confidence of the data, to make sure that they are integrating effectively in the XBRL digital format. This means, that these integrated files are not just a digital copy of the XBRL file; but they go through a digital audit process of their own.
      • Importance of international architectures.
        • We were discussing about the following things:
          • Taxonomy design patterns. Are they really using for?
          • Russian Taxonomies Integration challenges.
          • The possibilities of integrating the different standards; avoiding duplicities of formats when reporting.
          • Avoid that two different formats are doing the same things.
      • Role of Audit Files regarding transactional data. 
        • The real possibilities of integrating in the XBRL system some type of own audit to validate them were being considered.


  • (Best Practice Task Force – European Single Electronic Format) – Feedback on the ESEF reporting manual and proposals for additional guidance coordinated by Pierre Hamon (XBRL France) ; Roger Haddad (XBRL France, XBRL Europe, UBPartner)
    • The topics discussed were the following:
      • Analysis of the status of ESMA Taxonomy.
      • ESMA would need countries to create their own extensions in order to adapt ESMA Taxonomy to the requirements of each country.
      • In the meeting, assistants ask ESMA for be more generic in order to reduce the impact of having many extensions in software developers and improve the exchange of information between countries.
      • Call to action to the XBRL world to collaborate. Testing Taxonomies to detect gaps.

XBRL Europe Working Groups

  • (SBR, B&I, xEBR, ESG) 
    • B&I – The working group is trying to promote the use and understanding of XBRL around the world using this connections and skills.
    • xEBR – This working group is undertaking a restructuring of its members, so it is making a call to join.
    • SBR – They didn´t give us enough information; just saying there will be File audit updates coming soon.
    • ESG – Taxonomy review to find the most similar to ESMA´s point of view.

Last developments from ECB with BIRD and iReF 

  • Romana Peronaci –Italy.
    • Not yet fully developed; they hope will have this Taxonomy almost finished for the next meeting in Paris.
    • In Italy it is still used PDF as legal report value, while the XBRL is only used as a report between companies.
    • They are going to look for a voluntary software company to test these changes.

BPTF ESEF Technical 

  • (Best Practice Task Force – European Single Electronic Format) – Review of ESEF validation rules and need for additional rules
    Transformations for ESMA country dates, in-country reviewers – coordinated by David Bell (XBRL France, XBRL Europe, UBPartner et Herm Fisher

    • It is possible to solve doubts raised in the previous session; completing the initial session.
    • There was talk about the interpretation that is going to be made of ESMA.
Reporting Standard Team in Rome XBRL Congress

Reporting Standard Team in Rome XBRL Congress