Previous XQRT meetings

 

Here are the main topics discussed by XQRT members during the conference calls and meetings of 2009.

9 December 2009 (conference call)

A general update was provided on the IASC Foundation’s recent XBRL activities:

• Development of tools to improve XQRT interaction. Continued work on quality review criteria for the IFRS Taxonomy.
• Plans to launch an IFRS Taxonomy field testing initiative in 2010.
• Inclusion of XBRL on the IASB Standards Advisory Council agenda.
• Release of the December XBRL Update newsletter.
• First Extensions External Experts Panel (EEEP) roundtable in London on 10 December.

The proposed architecture for the IFRS Taxonomy 2010 was discussed, including:

• The publication of a project summary and feedback statement on Architectural Improvements to the IFRS Taxonomy and The IFRS Taxonomy 2010 Architecture Draft.
• The key architectural changes to the IFRS Taxonomy:
  • Re-considering the IASC Foundation’s approach for concept naming.
  • Re-considering the IASC Foundation’s principle of deleting concepts.
  • Extending the use of dimensions for intersection tables and list-oriented disclosures.
  • Alignment of dimensions to the Interoperable Taxonomy Architecture (ITA) global dimensional approach.
  • Style guide improvements.
  • Addition of a generic label linkbase and reference linkbase.
  • Single architecture and shared schema for the IFRS Taxonomy 2010 and the IFRS for SMEs Taxonomy.

The latest developments from the ITA project were discussed:

• Discussion on the potential use of formulae in the IFRS Taxonomy was deferred, pending further investigation and testing.

An update was provided on the XBRL International Versioning Specification.

The XQRT review of the draft IFRS Taxonomy 2010 in January 2010 was discussed.

12 November 2009 (conference call)

Elias-John Kies was introduced as EDGAR Online’s new representative on the XQRT.

The draft IFRS Taxonomy quality review criteria (to be applied to the IFRS Taxonomy) were discussed. XQRT members were invited to continue to discuss the criteria and suggest improvements and amendments.

The introduction of dimensions into the IFRS Taxonomy for intersection tables was discussed, including the results likely to arise from the implementation of these dimensions:

• Reduced concept and extended link role numbers.
• Normalisation of line/primary items.
• Consistency and duplication of items.

The XQRT discussion on the use of formulae in the IFRS Taxonomy was deferred until further discussion with various parties was completed.

The timing of future calls until March 2010 was confirmed.

16 October 2009 (meeting)

Downnload the presentations from the meeting on 16 October 2009 [PDF, 1.54 MB]

An update from the IASCF Trustees’ meeting on 7 October was provided, including approval of:

• Final Due Process Handbook for XBRL Activities and the accompanying Summary and feedback statement, a summary of the IASCF’s position on the key points raised in the public comment letters received. Both are to be published the week of 19 October
• Extending the membership of the XAC and XQRT to include the ‘big 4’ on both, in order to maintain a balance between financial reporting and XBRL expertise on both bodies
• Application of Bob Laux to the XAC.

An update on the XBRL team’s latest activities was also provided, including:

• Improved co-operation with the IASB.
• Release of the exposure draft IFRS for SMEs Taxonomy on 28 September.
• Development timeline for the IFRS Taxonomy 2010.

The key items within the Due Process Handbook for XBRL Activities were discussed, including:

• XQRT and XAC membership and members’ terms.
• Decision-making mechanisms.
• Taxonomy review and approval.
• IFRS Taxonomy extensions for new IFRSs and exposure draft IFRSs.
• Processes for consulting on and introducing architecture changes.
• Introduction of an XQRT Chairman.

A summary of UK extensions to the IFRS Taxonomy was provided and discussed.

The use of formulae and its potential implementation in the IFRS Taxonomy was discussed.

The key financial reporting updates to the exposure draft IFRS for SMEs Taxonomy were discussed.

Plans to begin an IFRS Taxonomy field-testing initiative were shared.

Potential architectural changes to the IFRS Taxonomy 2010 were discussed, in particular the likely changes to be implemented for:

• Renaming concepts.
• Deleting concepts.
• Extending the use of dimensions.

An update was provided on the latest Interoperable Taxonomy Architecture (ITA) project agreements.

An update was provided on the Taxonomy Management Systems (TMS) currently being developed to support and improve the IASCF’s taxonomy development processes.

9 September 2009 (conference call)

The outcome of the public consultation on the exposure draft Due Process Handbook for XBRL Activities and the key changes arising from this consultation were discussed. The near-final version of the Handbook is to be reviewed by the Trustees’ Due Process Oversight Committee.

There was a brief update on extensions, which is to be discussed further with the Trustees.

The feedback from the two Requests for Information on proposed changes to the architecture of the IFRS Taxonomy were discussed and the key findings shared, although no formal decisions have been made yet.

A brief update was given from the ITA meeting that took place in Washington DC in August.

Thanks were expressed to the XQRT members who submitted comments on the draft IFRS for SMEs Taxonomy, and key comments and findings are to be shared.

A full update of all items above will be provided at the face-to-face meeting in London on 16 October, details of which will be provided in the next few weeks.

12 August 2009 (conference call)

The XQRT Review Package for the IFRS for SMEs Taxonomy 2009 was released to members of the XQRT.

8 July 2009 (conference call)

The updates from the IASC Foundation Monitoring Board and Trustees’ meetings in Amsterdam on 6-8 July were shared, including a consultation that will be conducted on the change in the organisation’s name from IASC Foundation and IASB to IFRS Foundation and IFRS Board.

An XBRL update was provided to the Standards Advisory Council, who met on 22-23 June, on behalf of the XBRL Team and there is similar high-level interest in XBRL from the FASAC.

IFRS for SMEs is to be published on 9 July. The IFRS for SMEs Taxonomy is under development and an exposure draft is expected for release in September

Comments received on the Exposure Draft Due Process Handbook for XBRL have resulted in efforts to further improve the governance and quality assurance of the XBRL Team’s activities. As part of this effort a sub-committee of the XQRT will be convened to focus on improving field testing, usability and overall interaction with preparers and issuers.

Two RfIs examining proposed changes in the IFRS Taxonomy to improve change management of concepts and also the increased use of dimensions are to be published for public comment shortly.

The main architectural and financial reporting differences in the IFRS for SMEs Taxonomy, from the core IFRS Taxonomy, were discussed.

10 June 2009 (conference call)

The IFRS Taxonomy Guide, the IFRS Taxonomy Illustrated and XBRL Update will be published shortly;

IFRS Taxonomy translations are underway and will be published in due course;

The IASC Foundation XBRL Team has started the development of the IFRS for SMEs Taxonomy;

Two Request for Comments (RfC) documents have been prepared in order to solicit public comment on potential enhancements to the IFRS Taxonomy architecture (Concepts Naming and Change Management and Dimensions in the IFRS Taxonomy);
The current strategy in relation to the change management of namespace URIs has been supported and will continue

13 May 2009 (conference call)

The Exposure draft Due Process Handbook for XBRL Activities is open for comment until 26 June 2009.

The XBRL team should consider prototyping the approach of having numeric concept names for the IFRS Taxonomy.

The XBRL team should consider prototyping dimensions for intersection tables and dimensions for main statements in order to better assess the potential changes to the IFRS Taxonomy architecture.

The IFRS for SMEs Taxonomy architecture should be the same as the architecture for the IFRS Taxonomy.

8 April 2009 (conference call)

Comments received on the exposure draft IFRS Taxonomy 2009 and (where feasible) their incorporation into the final taxonomy.

The exposure draft Due Process Handbook for XBRL Activities, which was released on 2 April. Its purpose and nature were discussed with XQRT members, who were invited to submit their comments before the end of the comment period on 26 June 2009.

The IFRS Taxonomy which was also released on 2 April. The resources provided via the IASB website were listed and agreed as sufficient, with support documentation to be made available shortly.

12 March 2009 (meeting)

Download the presentations from the XQRT meeting on 12 March 2009 [ZIP, 397 KB]

Changes to the IFRS Taxonomy 2009 from an accounting and technology perspective.

Enhancements to the IFRS Taxonomy global dimensions.

Deliverables for the IFRS Taxonomy 2009 release.

Update on the activities of the Interoperable Taxonomy Architecture (ITA) project.

Ideas for the future direction of the IFRS Taxonomy architecture (with special focus on dimensional data modelling).

11 February 2009 (conference call)

Update on documents being drafted by the team:

• Due Process Handbook
• vision and strategy plan 2009-2011
• 2009 Taxonomy feedback

Update on upcoming meetings, webcasts and events including:

• FEE-IASC webcast on 16 February
• XBRL International Conference on 23-25 June
• Agenda for the face-to-face meeting on 11 March
• Suggested accounting amendments to the taxonomy, to be discussed at the face-to-face meeting: debit/credit attributes, Element ID, additional calculation and definition arcroles, consolidation of abstract items.
• Suggested technology amendments to the taxonomy: file names, closing hypercubes, moving relationships for dimensions for segments into ELRs, removal of redundant abstract items. Further discussion required on dimension defaults and scenario/segment dimensional containers.

7 January 2009 (conference call)

Development of the IFRS Taxonomy 2009

Need for further discussion of accounting issues

Reconciliation of operating segments in dimensions

Labels for abstract concepts

Dimension defaults

Consideration of the IFRS Taxonomy review platform.