You may find useful learning that an XBRL meeting anized on 25 May 2010 by the European mission gathered representatives of:

●     standard setters （XBRL International, XBRL Europe, IASCF）

●     supervisors （CESR, CEBS, CEIOPS）

●     business and financial professions （FEE, Business Europe）  

Participants stressed that the level of XBRL up-take in the World is significant , notably in the US, China, Japan, Korea, Australia, New Zealand, herlands, Belgium and Spain.

The interlocutors underlined the capacity of the standard to serve the needs of different reporting regimes （IFRS, US GAAP and other national GAAPs, Global Reporting Initiative GRI, rporate Social Responsibility CSR, rporate actions, industry KPI etc.）. They also noted the possibility to reuse XBRL reports by different administrations （tax, supervision, business registers, statistics, prudential purposes etc.）. EU examples of suessful XBRL projects have been outlined （in France, the US, Spain）.

Several participants evoked the importance of sts involved in the development of XBRL based systems vis-à-vis existing budgets and tight deadlines. A need for a broader st-benefit analysis has also been emphasized. This evaluation should include extended functionality, quality of data, quality of supervision, impact on mpetitiveness, and other externalities to national and sector projects.

Regarding the EU supervisory reform, participants noted a significant difference in approaches to reporting format harmonisation in thee pillars of financial supervision in the EU. In banking a relatively high level of harmonisation has been achieved by the mittee of European Banking Supervisors （CEBS）. The industry and banking supervisors in more than 15 EU member states use a mmon XBRL taxonomy which in 2012 will be fully harmonized. The progress has been possible thanks to a llaborative framework （Eurofiling） which chose XBRL for the banking reporting format. In the securities supervision, the mittee of European Securities Regulators （CESR） is working on a mmon position which will be presented in September 2010. The mittee of European Insurance and Oupational Pensions Supervisors （CEIOPS）, for its ongoing project, has chosen XML （for lower sts less mplication and tight deadlines） but is not rejecting XBRL in the future.

Participants discussed also the capacity of XBRL to handle 27 divergent taxonomies for the national GAAPs. Its capacity to assure automatic translation between different languages and different acunting regimes was also discussed.

ncluding, the mission reiterated the significant challenges facing EU financial players. It promised to reflect on the outme of the meeting and mmunicate the results to the participants.