TR2-21 Organisational and Legislative Implications-Reducing the Reporting Burden with XBRL–Experiences of Poland

Presenter: Michal Skopowski

The Polish case is a very interesting example showing how a single successful implementation of XBRL based reporting system can help to introduce the standard in another reporting chains. But the reporting burden which have been expanding since the early nineties is not easy to eliminate. The number of obstacles of many natures (like organisational and legislative for instance) can be very high. Especially when the process of the introduction of XBRL is conducted in parallel with major structural changes of the framework of the financial markets supervision. The lesson about origins and consequences of those obstacles must be learned. Nevertheless consolidated financial supervision can accelerate the process of introducing the standard which implementation is unavoidable taking into consideration the fact that the IFRSs (and indirectly the IFRS taxonomy) are being applied in most of the countries.