xbrl formulae development
DESCRIPTION
XBRL Formulae development. Business rules document. Initial Analysis. Document reference numbers and EU / SP classification. Development. Formulae intermediate formula. Test instance documents + corrected linkbase. Instance generation and testing. Formulae linkbase. Linkbase - PowerPoint PPT PresentationTRANSCRIPT
INFORMATION SYSTEMS AND PROCESSES
BANK OF SPAIN’S XBRL FORMULAE SYSTEM IMPLEMENTATION AND CONCLUSIONS
Víctor MorillaIT Project Manager of Bank of SpainMember of CEBS XBRL Network
IX European Banking Supervisors XBRL Workshop
Paris September 29th 2008
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INFORMATION SYSTEMS AND PROCESSES
XBRL FORMULAE DEVELOPMENT
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Business rules document
InitialAnalysis
InitialAnalysis
Documentreference numbers and EU / SP classification
DevelopmentDevelopment
Formulae intermediate formula
LinkbasegenerationLinkbase
generation
Formulae linkbase
Instance generationand testing
Instance generationand testing
Test instancedocuments + corrected linkbase
INFORMATION SYSTEMS AND PROCESSES
BUSINESS RULES WITH REFERENCES AND EUROPEAN / SPANISH CLASSIFICATION
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INFORMATION SYSTEMS AND PROCESSES
INTERMEDIATE FORMULA FORMAT
Not convenient formula editors available when we startedIntermediate XML format as temporal alternative to graphical editorProperties of the intermediate XML format:
- Based on a XML Schema definition- Uses only a subset of the Formulae specification- Simplifies Xlink Syntax
We designed an intermediate XML format and developed XSLT transformations to obtain the final linkbase:
- Isolates us from changes in the syntax of the specification-Takes care of default values-Takes care of style guide issues
But:-It doesn’t check Xpath expressions- It doesn’t check missing variables or name mistakes- Error detection quite limited
We used Fujitsu’s taxonomy editor to help debugging
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INFORMATION SYSTEMS AND PROCESSES
RESOURCES
About 400 XBRL Formulae for 3.400 business rules
About 120 working days= 5,5 months / one
person(2 months with 4 people part time)
In a stable environment, we estimate 36 working days (including both development and tests)
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INFORMATION SYSTEMS AND PROCESSES
FIRING SUBSETS OF ASSERTIONS
Each solvency statement has different frequency requirementsCA: half-yearly for groups and individual companies and yearly for subsidiariesOperational risk: yearly
We generally assume that not reported data is zero
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What happens to a rule like this?Addition of operational requirements by method (OR template) must be equal to total operational requirements (CA template)
What happens to a rule like this?Addition of operational requirements by method (OR template) must be equal to total operational requirements (CA template)
We need a way to select which assertions must be applied
depending on the data reported
We need a way to select which assertions must be applied
depending on the data reported
INFORMATION SYSTEMS AND PROCESSES
FIRING SUBSETS OF ASSERTIONS
Each assertion set represents the assertions to be applied to a statement
A set of items in the instance document are used to claim which statements are reported (a manifest)
Fujitsu’s processor asks the calling application before processing each assertion set
Our application obtains the reference of the assertion set and checks whether the that statement is in the manifest
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AssertionSetAssertionSet
Assertion 1Assertion 1
Assertion 2Assertion 2
Assertion 3Assertion 3
Reference:
Statement
3010
INFORMATION SYSTEMS AND PROCESSES
HOW ERRORS ARE COMMUNICATED
Each assertion has:A reference numberA label that describes the error
When an assertion is not satisfied the following information is sent to the user:
The reference numberThe label describing the errorThe expression that failedThe value of each input variableIn the case of consistency assertion:
The calculated value
The reported value
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AssertionAssertion
Reference:
3010-sv-1
Reference:
3010-sv-1
Label: “Operational risk capital requirements not consistent with its breakdown by method applied”
Label: “Operational risk capital requirements not consistent with its breakdown by method applied”
INFORMATION SYSTEMS AND PROCESSES
FUTURE PLANS: VALIDATION AGAINST INFORMATION IN A DATABASE
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XBRLInstance docume
nt
XBRLInstance docume
nt
XBRLprocessor
XBRLprocessor
Xpath externalfunctions
Xpath externalfunctions
Test = “abs(($assets - $prevAssets) / $assets) lt 2.00”
Fact variable
$assets : Concept filter
General variable
$prevAssets: “db:fact-from-period($assets, -1)”
| (Assets – Assets last year) / Assets| < 200%
INFORMATION SYSTEMS AND PROCESSES
CONCLUSIONS
XBRL Formulae covers perfectly our needsPowerfulExtensibleMaintainableIntuitive and easy to use
In spite the lack of homogeneity, it is possible to reuse formulae across different countries
Market tools are promising but...
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INFORMATION SYSTEMS AND PROCESSES
ARE WE USING XBRL PROPERLY?
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d-mr:MRiskSAEQUExchangeTradedStockIndexFuturesBroadlyDiversifiedSubjectParticularApproach +d-mr:MRiskSAEQUOtherEquitiesThanExchangeTradedStockIndexFuturesBroadlyDiversified
0501 + 0502