Business Register Financial Statements and Spanish GAAP

Since its implementation, and as a compulsory requirement established by order JUS/206/2009, XBRL has been widely used as the basis of annual digital financial statements preparation in Spain. On our website (), you can see more than 1,200,000 instances of XBRL (about 670,000 from financial year 2009 and 600,000 from 2008) that we have received, processed and made available. The content of the annual accounts can be downloaded as a compressed file that includes the XBRL file with the financial data or as a PDF that includes all documents. After the publication of order JUS/206/2009, the content and the design of the printed forms have been updated twice and so has the PGC2007 taxonomy (http://www.icac.meh.es/Taxonomia/pgc2007/Taxonomia.aspx). The Ministry of Economy, through the National Accounting and Auditing Institute and in collaboration with Bank of Spain and Registrars (among others), is preparing a new version of the taxonomy and an extension to be used by consolidated groups. This new taxonomy is going to be called NOFCAC2010 and will be available by the end of February.

XBRL for Reporting Data of General Identification (DGI) from Economic Agents

The DGI taxonomy was created by a working group comprised of leading Spanish supervisors, disseminators of information, and a number of major Spanish technology companies. Its purpose is to identify the entity that reports in XBRL as well as give information about the report itself. In order to satisfy the new requirements of the working group members, including the new version of PGC2007 and the forthcoming NOFCAC2010, a new version of the taxonomy is being prepared. We anticipate that new concepts of geoposition, handicapped employees, and the update of the national and international lists will be among the changes.

XBRL for Central Balance Sheet Data Office

One of the missions of the Bank of Spain is to collect, process, and store the financial information of non-financial companies in Spain, with the objective of increasing knowledge of each Spanish sub-industry. A GAAP 2007 XBRL extension is used to model an annual questionnaire, according to both the normal and reduced formats. Using this XBRL Annual Questionnaire, it is possible to collect (on a voluntary basis) information about an entity's annual balance sheet, income statement, features, activities, and other data, including a complete identification with the DGI taxonomy. Taxonomy ES-BE-CB v5.0 is available online. It is currently used by about 5,500 contributing companies.

XBRL for Municipalities and Local Governments – LENLOC, PENLOC and CONTALOC

In Spain, more than 8,000 local governments and at least 8,200 subsidiary entities can report budget information to the Central Administration using the XBRL-LENLOC and PENLOC taxonomies. In 2006, only 5% of municipalities used this procedure; the percentage increased to 25% in 2007, 52% in 2008, and 70% in 2009. A new version of the LENLOC taxonomy has been released in order to incorporate the recent legal changes in the local budget structure that will apply in 2011. Moreover, in order to facilitate the reporting of the annual accounts of the local entities and their autonomous organizations to the external control organizations, it has developed the CONTALOC taxonomy, which supports the creation and transmission of the local entities' information as well as their reception and treatment by external control organizations. The expected use of this taxonomy is the adoption, by external control organizations, of the XBRL standard as the normalized format for the reporting of the accounts of the local entities and their autonomous organizations.More information can be found online.

XBRL at the Securities Commission

In July 2005, the Spanish securities regulator, the CNMV (Comisión Nacional del Mercado de Valores), made reporting in XBRL mandatory for listed companies. More recently, in 2009, the CNMV extended the XBRL mandate to include investment firms, mutual funds, and securitization processes. Currently, the CNMV receives more than 30,000 XBRL reports annually. These reports are submitted by listed companies, investment firms, mutual fund managers, and securitization fund management companies. More information can be found at the CNMV site.

XBRL in Banking Supervision

More than 2,743 entities file 109,554 reports annually in XBRL format to the Bank of Spain. The Bank of Spain gathers information from Spanish financial institutions as part of its role in overseeing the country's banking system, collecting statistics, and reporting data for all companies to the European Central Bank. The introduction of XBRL for this reporting has enabled automatic data validation, better quality data, and reduced manual effort. The Bank of Spain is now pushing ahead with plans for the expanded use of XBRL, such as the use of formulas in the new taxonomies: Solvency Information (COREP), Financial Statements (FINREP), Mutual Guarantee, and Exchange Offices & Appraisal companies. More information is available at the Bank of Spain site.

XBRL for Corporate Social Responsibility (CSR)

The Spanish Association of Accounting and Management has created the CSR-XBRL Repository.  This is the first XBRL reporting repository in the world that is dedicated to CSR, and its aim is to enhance the comparability and dissemination of information. This will be useful for analysts, researchers, businesses, government, investors, media, and social actors such as unions, NGOs, and consumer associations. XBRL-CSR reports represent the use of XBRL to prepare and transmit CSR reports. Using this web portal web, people will be able to prepare their reports with special attention to quantitative indicators in relative terms. More information is available at the CSR-XBRL Repository website.