Wele to the 6th Member Assembly meeting and to my home,the United States.As I look out over this room,I reflect on the work you do each and every day to improve the suess of your projects and your ntribution to the public good of XBRL.Thank you for your passion and mitment to XBRL.Your time away from your jobs and your families is a sacrifice that I regnize and appreciate.

We have a significant amount of business to nduct today,including an election for two open Board seats and the approval of 2015Budget;but we also want to make this meeting informative and give you the opportunity to ask questions and share your opinions.So we’ll have mittee and board chairs provide ncise reports on their activities to provide time for questions at the end.

[Ms.Thomas introduces presenters John Turner,CEO;Paul Penler,Treasurer;Mike Willis,Nominations Chair;Dave Van den Ende,Membership Chair;Trevor Pyman,Standards Board Chair;and Ian Hicks,Best Practices Chair]

Member Assembly Board Chair Remarks

Before I begin my remarks from the Board,I’d like to regnize XBRL International Board of Directors that are with us today

Thank you for your service and your participation.

A little over a year ago,in Dublin,I stood before you and remarked how much things had changed during XBRL’s first decade.I stand here today thinking that the business reporting landscape has changed as much since we were in Dublin as it did in our first ten years!!I noticed with great interest when KPMG acquired Link Analytics and PWC acquired Cundus—a signal to the marketplace of the importance of business intelligence and structured data.And late last week,the European Central bank dropped its overnight deposit rate to a negative percentage.These are interesting and unusual times.

This external environment—one that is embracing plexity and the explosion of time--is our pitch and XII is going through a period of significant challenge.XII has bee much more sharply market focused,with new specifications opening up opportunity for broader and more effective use of XBRL.We talk in terms of reuse and aessibility.We are seeing more and more mandates in developing enomies and there is increasing demand –and new solutions –for the massive amounts of XBRL data being llected by ernment agencies to use for better decision making.

As a Standards anisation,XII ntinues to be both bolstered and challenged by these the external environment and the events impacting business reporting.Whether we view these developments as opportunities or risks,there is no doubt that we cannot ignore them.The Board,volunteers,and the staff led by John Turner are working to position XII to be able to positively benefit from the current climate while weathering any challenges that e our way.Standing still—the status quo—is not an option.This is demanding and exciting work;and the people in this room –both here up front and in the audience –are right in the thick of it.

On the positive side,we have what can only be described as massive implementations for prudential and banking supervision in Europe;the passage of the DATA Act in the United States,the growth of Standard Business Reporting and ntinued innovation in reporting by agencies in China,Japan and India.The UAE has shown remarkable progress in their efforts around securities regulation and when it es to making ernment data available and transparent,the UK is setting the bar very high indeed.The program here in Orlando is vering these ics in great detail,and I look forward to the many nversations those presentations will spark.

The flip side of that in is a lingering short-term focus on the st of using structured data as opposed to leading the dialogue around the next generation of the benefits of structured data.And this isn’t solely a private sector phenomenon –sometimes as agencies move to being leaders in the use of structured data,the tension between the regulators and the regulated surfaces,slowing the movement toward efficient regulation.The need for solid,effective local XBRL leadership is key to maturing these discussions,creating the support system and keeping us all focused on improving our capital markets.

And that prompts me to make a point –and I cannot make this strongly enough.Local engagement,and the ntinued growth of regional operation,remains one of the most vital factors in our ongoing suess not just as a nsortium,but for the XBRL Standard itself.Our suess was built on grassroots evangelism,wisdom and delivering on the benefits of digital reporting,and our future depends on it just as heavily.Look at the recent progress I just listed –XII Jurisdictions are at the forefront or heavily involved in all of them.

But it is no secret that XBRL International’s business model and the Jurisdiction model are not sustainable and our models are 100%dependent on each other.At the international level,we are responsible to find resources to support the enhancement and maintenance of the Spec and the adoption of XBRL at the local level through evaluating the current jurisdictional model and revenue producing products or services.The growth in the XBRL activity and the size of the market is astonishing.At this time,there is no nnection between that growth and the growth in XII’s munity resources.We must address the sustainability of the business models and we are.This is our number one priority.

For our friends that are jurisdictional leaders,the following words will sound familiar.Whether through lack of funds,historical barriers or language issues,the majority of new projects and implementations are taking place outside the Jurisdictions.That is part of the risk in creating an open standard –you don’t have to be a member to use it..Existing Jurisdictions,including many who have enjoyed enormous suess over the last decade,are also struggling to stay viable as projects mature and agencies assume some of the roles previously filled by Jurisdictions.

XII staff and leadership have met with several jurisdictions to explore the opportunities they have to reshape themselves and create new ways to engage the market.This issue is so important that we have asked the Membership Development mittee,led by Dave Van den Ende,to examine this issue in great detail and advise the nsortium on ways in which the current climate can be leveraged in such a way that ensures the long-term sustainability of both XII and the Jurisdictions.Dave will fill you in on the details during the MemDev report.

I do not doubt that everyone in this room will be asked to participate in that effort in some way.I ask you to apply all the energy you can spare and to think creatively—holding on to yesterday is not a possibility.We have built an impressively strong munity,and the incentives to participate remain strong.As you will see this week,developments in open data and transparency that we uld not even begin to imagine at XBRL’s inception are now a fone nclusion.With the llective knowledge,drive and ambition ntained in this room we uld extend those gains to the next frontier –issues like parability and semantics.Take a cue from panies like Thinknum,ini and RankandFiled..See the need –fill the need.

And we don’t just have the people in this room.Our work of advocates around the globe is growing by the day.John Turner will share with you his impression of the enthusiasm he has seen in visits to the G and South America both for the adoption of XBRL and participation in our nsortium.I urge the people in this room to feed off of that energy.

The last time we were all together in Dublin,there was talk that XBRL must remain germane in the face of technology and market developments.Thanks to the efforts of the XSB,supported ably by the staff,this has happened.In the last six months,our Technical Work Groups have made outstanding progress on a number of specifications –most significantly the Table Linkbase.This work is already paying dividends in the market;and along with other developments that will be outlined in the XSB report,XBRL is being ntinually made more relevant and useful.I would also urge you to both check out the new Specifications web –if you haven’t already –and to link to it from your own XBRL related web pages.It is a fantastic resource for anyone –whether experienced or uninitiated.

The Best Practices Board is also making great strides in identifying areas of knowledge --most recently surrounding taxonomy architecture –that will be of great use to existing projects and especially to those looking to implement XBRL for the first time.There is an incredible well of experience and knowledge out there,and our work to llect,categorize and share it will aelerate in the months ahead.This is a resource that will be of huge benefit to our members.

To sum up,it is clear from recent gains in the US,Europe,the Middle East and ,that the climate for the large part remains in our favour.There is ntinued demand for improving business and ernment reporting through structured data –and XBRL remains the most viable tool to meet those aims.But we must ntinue to work together to solidify our suess and push forward to new heights.We must support new initiatives that will lessen our reliance on membership and nference revenue –even if those ideas broaden our mission or seem daunting to achieve.This is something we must do llaboratively to sueed.And I am nfident that we can.

Finally a personal note –this is the last time I will address the Member Assembly as Board Chair.As I look around the room,I see a great mix of talent,passion and energy.People who have been here from the beginning –and people here for the first time.People that took time to share with me their views and perspectives—I have forever been changed by working with you.We are a munity of regulators,vendors,aountants,technologists—and we e from two dozen untries and six ntinents-A true representation of the XBRL munity.A munity of infinite variety with an equal number of opinions to match!

I have benefited tremendously from this experience not only as a professional but as a person.I am honoured to call many of you friends and I will forever remember our times together,most filled with lively debate with a nice dose of laughter.As I leave this position,nor O’Kelly leaves us as well.nor has been with us from almost the beginning—his humor,his strong pulse on the future direction of technology and his love for live has blessed us all.I will miss nor and wish him the best as he starts on this new chapter in his life.

We are united with our drive and desire to improve business reporting.To make business information more available,reliable and transparent.To supply better data so that we can all make better decisions.Thank you for all that you do to support,promote and manage XBRL.I am amazed by how much this group of volunteers has acplished and as you hear from our CEO and mittee chairs today,I think you will agree that our most exciting days are still ahead.And that no matter what the challenges may be,together we can find the solution.

Thank you.

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