Efficiency
and quality gains are the driving forces behind the decision
to apply digital reporting and Semansys’ solutions by
16 of the Dutch Water Boards. The Water Boards, CBS and leading
vendors have teamed up to realize one of the first implementations
of XBRL. The start of a wide deployment of XBRL in Dutch local
government.
One of the many
reporting duties of the Dutch Water Boards (Waterschappen)
is the so called EMU-reporting. Statistics Netherlands (the
Dutch statistics bureau CBS) is chartered to receive, process
and to relay these reports to, amongst others, the European
Commission and the European Central Bank. To facilitate the
process of requesting, assembling and reporting the necessary
data, 16 Water Boards and CBS have decided to apply the XBRL
standard for business reporting. Development of the list of
reporting items (taxonomy) is currently well on its way and
the deployment of systems for report generation is being prepared.
This initiative, determinedly led by the Association of Water
Boards (Unie van Waterschappen), is a great example of how
XBRL can lead to collective returns.
Semansys Technologies
provided the necessary software applications for taxonomy
development. Also Semansys will equip the Semansys XBRL Composer
specifically for the Water Boards, in order to enable a highly
efficient process. The built-in facilities for extracting
data from administrative systems are applied to automate the
reporting process entirely. Semansys’ offer for a full
functional report reception and processing facility completes
the regulatory reporting solution.
IBS Nederland,
market leader in financial software, will integrate Semansys
XBRL Composer in their software as a reporting module. This
will result in optimal efficiency and flexibility, and a minimal
effort needed for deployment. Deloitte&Touche is sponsoring
this initiative based on the vision that this is a very important
leading initiative holding huge potential for the near future.
The validity of this vision is already confirmed; CBS has
recently published plans to support XBRL for all EMU-reporting,
including those required from all provinces and municipalities
in The Netherlands.
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