XBRL Offerings

from IRIS
Presentation to
Bolagsverket, Sweden
What Does the Presentation Cover

 Introduction of IRIS

 IRIS’ Taxonomy Development Services

 IRIS’ Taxonomy Creation Tool – IRIS Noah

 IRIS’ Validator – Verify

 Taxonomy Implementation Life Cycle

 XBRL Program Implementation and Support

 XBRL-based eFiling Platform – IRIS iFILE

 Use of XBRL data via IRIS’ Data Consumption Platform

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About IRIS
IRIS
Leading XBRL Company with Products across the Information Supply Chain

 Full range XBRL solutions provider

 Offerings for creation, collection and consumption of structured

data for financial reporting & compliance

 Clients in over 15 countries covering 4 continents

 300+ strong team of XBRL and structured data professionals

 Direct member of XII and XBRL India. Member of Best Practices

Board

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 Global Footprint
Poland
– Historical data
conv ersion into XBRL Israel
– IRIS DP f or
Turkey analy sis of
Macedonia – IRIS DL f or Tax XBRL f ilings
– Filings to f ilings
Ministry of
Finance

UK
Ireland – Filings to
HMRC
– IRIS Carbon
f or Tax f ilings

US
– SEC Filings of
~270 companies
thru IRIS Carbon Thailand
– FP relationships – Department of
– Filers Business
Dev elopment
Italy Malaysia
– Securities Commission
– IRIS Carbon
Singapore
for filings to Kuwait – ACRA
Info Cam ere – CMA
India
– MCA
Saudi Arabia Iran – CBDT
– Ministry of Commerce – Taxonomy – SEBI
and Industry Consulting – Corporates
– Tadawul Stock – RBI
Exchange
UAE Mauritius
– ESCA – Bank of Mauritius
– ADSE – Company Registry
– DFM
Qatar South Africa
– QFCRA – JSE Limited

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 The Business…
…Straddling the Information Reporting Supply Chain

CREATE
Offerings ranging from enterprise software to
Cloud / SAAS to create documents ready to
be filed with regulators

Structured Data

COLLECT CONSUME
Reporting platform with over 12 World’s first and most
deployments globally. Helps comprehensive database of financial
regulators collect submissions. data culled from XBRL filings,
Taxonomy development is included. normalized across geographies

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How IRIS Can Help Regulators

Stage Stakeholders IRIS’ Offerings

• Regulators • XBRL Consulting – Developing and testing taxonomies,
• XBRL Taxonomy quality review, support for implementing XBRL program
Taxonomy
Experts • XBRL Training – Create awareness and equip
Development • Subject Matter stakeholders to take informed decisions and manage
Experts any XBRL program

• IRIS iFILE Client – Spreadsheet and web based offering

for creating XBRL reports
Applications for • Filers
• Software vendors • IRIS Carbon – Cloud-based disclosure management
creating XBRL
• Regulators (if they offering for creating output in multiple formats including
reports based on the choose to offer this XBRL and Inline XBRL
taxonomy facility to filers)
• IRIS iDEAL – Connects to and coverts the data from
existing systems into XBRL format

Filing platform for

• Regulators
collecting, validating • IRIS iFILE Server – Suite of modular components
• Software vendors
and storing XBRL • Filers
stitched together by a portal solution
reports
Applications for • Regulators
• Analysts • IRIS Data Consumption Platform (DCP) – Repository of
consuming XBRL • Data Aggregators structured and globally normalised data.
data • Other data users

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 Taxonomy
Development
Services
Areas of Expertise

 Financial reporting
 Regulatory reporting including prudential reporting,
Reporting
1 supervisory data, statistical information etc.
Domain  Cost audit and compliance
 XBRL GL

 Business logic for correctness and completeness of data

Business rules
2  Rules and triggers to identify inconsistencies and issues
and validation  Using XBRL as well as non-XBRL mechanisms

Establishing
 Standard business reporting – Singapore, Macedonia
3 use cases for  XBRL in non-financial domains such as crime-data
XBRL

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 Taxonomy Development Methodology

 Tried, tested and successfully

implemented
• Engaging all stakeholders
• Iterative process
• Robust QA framework

 Adaptable to suit regulator

requirements
• Standard Business Reporting
• Factors in the XBRL solution
/implementation requirements

 Periodic and progressive training

for stakeholders and project team

 Hand-holding and knowledge

transfer to undertake taxonomy
maintenance

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Our Taxonomy Experts

 Cross functional knowledge

 Global implementation experience
 Involved in standard setting process at XBRL International

Select details of participation in working groups:

Taxonomy IFRS Taxonomy Consulting Taxonomy Architecture Guidance
Architecture and Group (ITCG), IASB Task Force (TAGTF), XII
modelling
K. Balachandran Shilpa Dhobale

XBRL Program Implementation Guidance Task Best Practices Board (BPB), XII
Implementation Force (IGTF), XII
Revathy Ramanan
Shilpa Dhobale
Revathy Ramanan
Beyond Financial Corporate Actions Working Legal Entity Identifier Working
Reporting Group, XII Group, XII

Rahul Dhamne Tijo Joseph

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Select Taxonomy Development Projects

2016 CMA, Kuwait

BoM, Mauritius
2015 CBRD, Mauritius (Regulatory Reporting)

RBI, India
(Regulatory Reporting -
MCA, India
2014 Phase 2)
(Revision)
MCI, Saudi Arabia SCA, UAE
(Revision)

2013 SEO, Iran DBD, Thailand QFCRA, Qatar

(Regulatory Reporting)

2012 ACRA, MCA, India

MCI, Saudi Arabia Singapore (Cost Audit)

2011
SCA, UAE MCA, India
Tadawul, Saudi Arabia

RBI, India
JSE, South Africa (Regulatory Reporting -
2010 Phase 1)

IFRS Taxonomy based Financial reporting Regulatory Reporting

taxonomies Taxonomies
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What Sets Us Apart

 Beyond taxonomy development

End-to-end offering
• Rationalize data needs including taxonomy
• Implementation support development, QA and
Established
taxonomy authoring
and proven
 Handholding to facilitate smooth application
methodology
knowledge transfer and taxonomy which has
maintenance been
• Extensive training to project teams successfully
Consultants with implemented
• Tool-kit for developing and testing sound reporting in over 10
taxonomy domain countries
knowledge, IFRS
 Experience of working with several and XBRL
Rich experience in
regulators and varied reporting domains
taxonomy development
and project
 Active involvement at XII level implementation for
• Ensure global and best practices are more than 15
implemented regulators
• Preemptive adoption of new and upcoming
developments in XBRL specifications

 Robust quality assurance framework

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Taxonomy Creation
Tool
IRIS Noah
Collaborative and web-based taxonomy management solution

Key Features:
 Multiple taxonomy versions management
 Flexibility to change taxonomy views
• Hierarchy view
• Grid view of dimensional relationships
 Editing, viewing, generation of multiple entry-
points
 User management
• Predefined roles
• Workflow options – maker, checker,
reviewer
 Various alternatives for deployment
• SaaS model (on IRIS servers)
• In-premise
 Scalable and flexible design to support new
XML/XBRL specifications

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IRIS Noah Workflow

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User Dashboard
Language
localization
support
Alerts and
notifications
Multiple taxonomies and
multiple versions within a
taxonomy

Upload taxonomy once as base at

company level. All users of the
company can work with the
taxonomy

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Schema View

Create new data types, arc-roles and other

taxonomy elements

Arrange
File level lock Add elements views
and unlock to with pre-defined
support values for
collaborative attributes
working

Bulk upload of elements

from template

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 Linkbase – Hierarchy view
XBRL Technical
Validation

Schema elements list –

support drag and drop
of elements to create
hierarchy

Different
options to
view
linkbases
Properties, labels,
and references –
Element wise

Features to help easy creating / editing of taxonomy

Export to excel

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Grid View – Dimensional Relationships

Hierarchy View

Grid View

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Linkbase – File View

Labels in multiple
language

Locate element in linkbase

panel or across taxonomy
files

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Generation and Validation

Log of all versions Download

generated Taxonomy Files

Multiple entry-points editing / viewing/ generation

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Validator
 Validator IRIS Verify
Key Features:

IRIS Verify  Integrated in all IRIS offerings

 Multi-integration methods
• SaaS Model / In-premise
• Web service / Windows executables

Validation Rendering  Large instance processing

 Error output in varied formats (CSV,
HTML)
 User-driven validation
Best Practices
XBRL (FRTA, FRIS) Validation XBRL Instance • Select the specification
Specifications* Custom Results Document
Checks • Select the specific business rule
(Assertions /Formula)

* XBRL Specifications Covered:  Faster processing using caching option

for taxonomy
• XBRL 2.1
• XBRL Dimensions
 Rendering of instance document using
table linkbase
• XBRL Extensible Enumerations
• XBRL Formula
• XBRL Table Linkbase
• XBRL Versioning
• XBRL Generic Links
• Registries
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 Taxonomy
Implementation
Life Cycle
 Taxonomy Life Cycle Management
Project Initiation
 Governance structure
 Identifying stakeholders
 XBRL awareness
 Project plan
Taxonomy Publishing
 Supporting documentation -
Architect
 Public review and consultation
 XII acknowledgement
 Publishing on taxonomy
registry of XII
 Post-implementation training
Requirement Analysis
 Stakeholder meetings and
workshops
 Collating data needs
 Analyzing business
requirements
 Scope of taxonomy
 Business rules
 Pre-implementation training
Review and Testing
 Completeness and
consistency
 Varied reporting scenarios
Data Modelling
 Conceptual and logical
framework
 Scalable and maintainable
architecture
 End of use of data
Taxonomy Creation
 Physical structure of
taxonomy
 Creation of schema and
linkbases
 Defining business rules
 Validating and testing
taxonomy
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Getting the Taxonomy Right!

Factors influencing taxonomy design:

Business Needs XBRL Technical Choices

 Taxonomy ownership  Inline XBRL

 Granularity of data Taxonomy  Importing or reusing

 Rendering of data components from existing

 Data comparability taxonomies

XBRL
Business
Technical  Physical folder structure
 Ease of creation for preparers Needs
Choices
 New specifications
 Errors and warnings

• Extensible enumerations
 Entity specific information

 Phased implementation • Taxonomy package

• Table linkbase

• Assertion severity

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Client Involvement in Taxonomy Development
Active participation of stakeholders is a key success factor

XBRL training for client Empower client team to

Preparatory step
project team take informed decisions

Client’s role at various stages of taxonomy development

Inputs and guidance for understanding the disclosure

requirements

Provide element documentation

Discuss and finalize the business rules as applicable for

XBRL filing

Provide sign-off on the content and modelling approach for

taxonomy

Review and validate the taxonomy

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XBRL Program
Implementation
and Support
Maintenance and Implementation Support

MAINTENANCE FILING SOLUTION DATA MIGRATION

 Set up process for  Strategy and  Planning and
taxonomy change recommendations for recommendations for
management rolling out XBRL program approach

 Detailed training on  Inputs on requirements for  Review and support

taxonomy and filing solution mapping of old data
applications to client structure with new
team  Validation and testing taxonomy

 Framework for  Supporting documentation

communicating the such as filing manual,
taxonomy changes to preparer’s and software
stakeholders vendors guide

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Ongoing Taxonomy Maintenance

Governance Structure

• Establish structure to monitor and evaluate need to revise taxonomy

• Checklists and steps for undertaking taxonomy upgrade

Collating the change

• Mechanism to document the changes required, its analysis and the

action items for taxonomy
• Manual / Application driven

Timing

• Decide policies for timing and frequency of taxonomy upgrade

• Periodic / As and when

Communicating the changes

• Documenting the changes made in taxonomy

• XBRL Versioning Report / Other document formats

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 XBRL Training
 Classroom training and offline Training
 Customized to suit client needs
• All Stakeholders
• Local reporting requirements
• High-level view
Basic
• Familiarizing with XBRL • IFRS/EBA/EIOPA taxonomies
concepts
• Taxonomy implementation, extension and
maintenance
• Train the trainer programs
• Client Project Team
Taxonomy • Taxonomy development
 Scheduled at critical milestones of project
• Informed decision making
implementation
• Project initiation
• Kick-off for taxonomy development or with
• Filers, Client team
release of draft 1 taxonomy
• Interplay of taxonomy
and XBRL solution Solution • Completion of taxonomy development
• Identify and support
taxonomy maintenance
 Comprised of theory and hands-on experience

 Coupled with the filing solution of regulator

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XBRL e-Learning Platform

Course modules • Developed by our experts Rich

with global experience in
 Introduction to XBRL Content
XBRL implementations
 XBRL across the globe
 XBRL benefits and myths
 Taxonomy and schema • User inputs at various
stages
Interactive
 Linkbases • Quizzes and self-
assessment tests
 Steps in building taxonomy
 Instance documents
 XBRL implementation
• Integrated with product
 XBRL validation and business rules demos Hands-on
• Try-it-yourself

View demo – http://elearning.iservices.in/

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 XBRL-based
eFiling Platform
XBRL based e-Filing Platform – iFILE

Creates disclosure data in XBRL which aids computer based

deep checks on the data ensuring clean data from source

A modern electronic filing application for

collecting disclosures documents from the
regulated entities

Customised and pre-packaged multi-lingual application

available for rapid deployment. Deployed in intensive use
environments with more than a million users.

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 What are Regulators using iFILE for?

Coverage Coverage Coverage Coverage Coverage

    


  

 
 

(Thailand)
(Pilot)
Companies Division, Mauritius

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 IRIS iFile – System Components Overview

 XBRL Authoring Tool

 Validation Engine
 Rendering Engine
 User Management
 Submission Gateway
 Workflow Engine
 Filing Calendar
 Notification Engine
 Version Management
 Reporting Analytics
 Compliance Module

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IRIS iFile – Value Proposition

 Offline XBRL preparation Excel based tool, comes bundled with validation engine and
XBRL processor

 Modular Architecture – each component capable of functioning as a separate unit

 Works on open platforms and does not require any proprietary hardware and operating
system

 Rendering of data based on Table Linkbase. This makes the form creation modules generic

 Dual language

 Enterprise license model

 Taxonomy experts available in house to support the platform

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Data Consumption
Consumption of Data – IRIS Data Consumption Platform

Once companies start filing, the filed data can be made available to the regulator,
companies and investors, through a data analytics offering such as IRIS DCP

IRIS DCP can facilitate the following:

View and Compare Financials
 Select companies to view and analyse financial information reported in XBRL
 Sift through disclosures with smart links that trace data points back to the filed source document
 View Swedish labels for concepts
 Export select statements or entire XBRL document to an Excel file

Normalization and Comparison

 Data across sectors can be normalized for intra-sector and inter-sector comparisons
 Users can view normalized as well as reported information

Derived Data (Financial Indicators and Ratios)

 Pre-defined derived values both broad based and sector specific
 Ability to view the formula leading to the calculation of the ratios

Analytics / Dashboards
 Analytics / Dashboard allows users to create peer groups and dashboards containing financial
comparatives in chart or tabular form across the peer group

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Gautam Mahanti
Gautam.mahani@irisbusiness.com

Anand Padmanabhan
Anand.p@irisbusiness.com

To know more, visit www.irisbusiness.com