fujitsu interstage xwand solvency ii reporting in xbrl - are you ready for changes? fqs poland -...

FUJITSU Interstage XWand

Solvency II Reporting in XBRL - Are you ready for changes?

FQS Poland - Center of Excellence of Interstage XWand for EMEA region

Agenda

Fujitsu at Glance XBRL introduction Solvency II reporting vs Interstage XWand Suite

Desktop tools, Development engine

XBRL components Summary Value added

Copyright 2014, FUJITSU LIMITED2

3

Fujitsu at a Glance

Headquarters: Tokyo, Japan Established: June 1935 Consolidated revenue: US$47 billion Employees: Over 170,000 worldwide Sales and support operations in over 100 countries Fujitsu Limited shares are listed on: the Tokyo Stock

Exchange, as well as the Osaka, Nagoya and London exchanges

Leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services.

We use our experience and the power of ICT to shape the future of society with our customers.

Copyright 2014, FUJITSU LIMITED

4

Fujitsu’s XBRL Expertise

Leadership in XBRL Consortium Europe, Spain, Finland, Poland, US, Australia and Japan Chaired XBRL 2.1 Specification Working Group in 2003 At-large member - Intl Consortium Member of Best Practice Board Participation in European Filing Rules WG and XBRL European Business Register (xEBR)

Leading XBRL Specification Efforts Specification – XBRL 2.1/2.0 Best practices – FRTA, FRIS Conformance Suite Dimensions, LRR Latest activities – Formula, Versioning, Rendering

Leading XBRL tools provider 200+ downloads / month Extensive experience with designing and implementing XBRL based solutions (US SEC,

SBR Australia FSA Japan, Tokyo Stock Exchange)

Copyright 2014 , FUJITSU LIMITED

5

Fujitsu’s Center of Excelence for Interstage XWand

R&D

SoftwareProduct

Development

SalesSupportConsu-

lting


XBRL

Basic concepts and trends

6 Copyright 2014, FUJITSU LIMITED

First a Quick (and Loose) Definition

XBRL is a standardised way of creating and using business reports in XML. It allows regulators to specify the financial facts they require through the use of taxonomies (sets of data definitions/rules). This ensures consistency across all of the submitted documents (instance documents) and aids the internal processing of the information contained in those documents.


XBRL Terminology

Taxonomy - A set of rules which describes the information which is required to be in the report Includes financial elements (fixed assets, cash on hand...) Describes relationships between the financial elements Can be based on existing taxonomy, e.g. Solvency II,

COREP/FINREP, IFRS, GAAP, etc. Usually defines validation rules Can provide visualization template for report

Instance Document - A document created by combining actual financial data with the taxonomy Pilar III Report (insurance), Call Report (to stock exchange),

Balance Sheet, Financial Liquidity Report (banking), Contains actual financial data

Can provide custom visualization of report (Inline XBRL)


XBRL adoption throughout the world


XBRL adoption and application increasing worldwide Steady adoption by regulators and public institutions, followed by corporations and investors

Key XBRL projects and Drivers in UE

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EBA The European Banking Authority recommend the use of XBRL as it will lead to greater harmonization of IT formats with

the adoption of XBRL COREP/FINREP taxonomies . The first quarterly reporting period is Q1 2014

EIOPAThe European Insurance and Occupational Pensions Authority (EIOPA) is currently developing harmonized Solvency II Quantitative Reporting Templates. Roadmap and guidelines for the preparatory phase


Key XBRL Taxonomies

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COREP/FINREP taxonomy for banking sector Solvency II taxonomy for insurance and pension funds IFRS taxonomy US GAAP taxonomy - financial reporting taxonomy GRI taxonomy for non financial reporting

Global Ledger taxonomy

xEBR taxonomy (draft exist)


European legislation


Reduce the Report Burden

Submission completed in one

stepInterstage

XBRL PlatformInterstage

XBRL Platform

Verification rules

Verification rules

InterstageXBRL Platform

InterstageXBRL Platform

Repeated many times

Filers

CorrectionCorrection

Inte

rsta

ge X

Wan

dCo

nven

tiona

l

Regulators

Filers RegulatorsVerification

rulesVerification

rules

VerificationVerification

VerificationVerification Batch Verification

Batch Verification

Common Rules

Submission

Corrections Requested

Submission

13


XBRL Mandatory Reporting


Filer/Submitter

COREP/FINREP

Solvency II

15

Solvency II Reporting in XBRL vs XWand – Products Portfolio


Standard Workflow

Regulator

Filer/Submitter

DPM Sheet

Business Template Sheet

1.taxonomy generation

2. HC/TL/FL generation

4. review

3. open

5. excel form generation

7. input excel form

FormulaLinkbase

TableLinkbase

Taxonomy Excel Form

6. deliver

value assertion9. submit

8. openSheet IC

XBRLInstance

valid data

XBRLInstance

Server side checkcheck data

create instance...


XBRL Solutions Portfolio

XWand SuiteIntegration Components


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The Proven Competence

Adopted by more than 100 customers in over 41 countriesAdopted by more than 100 customers in over 41 countries


Tax OfficesCompany RegistersBureau of Statistics

Financial Supervisory Authorities

SoftwareVendors

Ministry National BanksFilers/SubmittersStock Exchanges

SBR Projects

http://www.danskebank.com/













































































Interstage XWand


XBRL Solutions – Portfolio

Tools for development of Taxonomies Tools for operations on Instances Analytical tools for Instances Data mapping tools Software Development Kit – XBRL API Integration components

Components for automation of common operations withing existing environments

Components for building web pages with integrated XBRL viewer/editor

Total solutions Submission portals Raportado – Large scale enterprise Business Reporting Solution


Additional Integration Components

Integration with 3rd party solutions Web services Command-line tools Development libraries MS SharePoint components MS SQL Server data providers

Customization and System Integration


Sample Submission Platform


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XWand Summary


Advantages Over Competitors

High performance validation engine Optimize for large instance documents and complex

formulas Proper benchmarking using production taxonomies and

validation rules (no tests data generation)

Early delivery to support comming changes of XBRL specification Beta releases available for long-term customers

Network of local Centers of Excellence and support engineers Fujitsu has supporting offices and consultants in every

EU country34 Copyright 2013, FUJITSU LIMITED

Why partnering with Fujitsu

FUJITSU Advantages The XBRL leading vendor Proven by experiences, actual solutions in use

• Best Practice Template• Professionals who work around the world

Rapid custom-made development• Less programing• Ease of integration

Customer Benefits Everything you need can get all at once Challenging the XBRL, reducing the risk to fail in project Saving more costs than hand made system Improving alignment between business side and IT side


Interstage XWand – Value Added


For more information please contact

Sławomir SkrzypekBusiness Development Director - BI

Parkowa 11 Street 30-538 Krakow, Poland

Tel.: (+48 12) 429 43 45Mobile: (+48) 606 298 596

E-Mail: [email protected]

fujitsu interstage xwand solvency ii reporting in xbrl - are you ready for changes? fqs poland -...

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