XBRL Poland Annual Conference 2010: New reporting requirements for banking sector

On March 18, 2011 the National Bank of Poland hosted the 2010 Annual Conference of XBRL Poland Association co-organized by the Accountants Association and the Association of Banks in Poland. The main subject discussed this year was financial reporting in banking sector, in particular new requirements related to COREP and FINREP.

The National Bank of Poland (NBP) introduced obligatory reporting for FINREP and COREP in XBRL format for all banks in Poland four years ago. BR-AG advised the NBP in the process of extending FINREP and COREP taxonomies developed by the C-EBS XBRL Network and supported Polish banks and software vendors in implementing XBRL and new reporting requirements. Currently over 800 banking institutions registered in Poland file their financial statements and capital adequacy reports on monthly, quarterly and yearly basis with different scope depending on the period and type of entity.

Stating 2013 the revised COREP and FINREP framework comes in force in the European Union. The aim of the conference was therefore to discuss the changes in the underlying information requirements and demonstrate the new architecture of Eurofiling COREP and FINREP taxonomies including tables linkbase used for rendering purposes. These topics were presented by Ignacio Boixo (European Banking Authority, XBRL Operational Network), Bartosz Ochocki and Michal Skopowski from BR-AG.

Other topics discussed during the conference included application of global standards for the EU integration (Piotr Madziar, EC), XBRL application in the National Bank of Poland (Krzysztof Burlaga, NBP), IFRS taxonomy for banks (Bartłomiej Czajka, IFRS Foundation) and other disclosures of banks (dr. Joanna Wielogórska-Leszczyńska, AAP). A separate slot was devoted for software vendors who presented their tools and solutions supporting banks in meeting the filing requirements set by the NBP.

The conference attracted 100+ attendees, among others: representatives of regulators, commercial banks, software vendors, accountants and academics.

http://www.xbrl-pl.org/