III Working Group on IFRS impact and CBSO database

The III WG on IFRS impact and Central Balance-sheets Offices (CBSO) databases has three main fields of actuation:

1. Assessment of IFRS implementation;
2. Description of CBSO databases and creation of a common standard format from IFRS standards, that could be used in the future in a potential interchange of data;
3. Monitor the usefulness of XBRL as a tool to reduce the reporting burden.

The group is composed by representatives from:

• Banco de España (who also chairs)
• Banco de Portugal
• Banque de France
• Banque Nationale de Belgique - Nationale Bank van België
• Centrale dei Bilanci
• Deutsche Bundesbank
• Oesterreichische Nationalbank
• European Central Bank, Eurostat and IASCF take part in the WG as observers.

The documents presented in October 2006 to the ECCBSO plenary meeting are available in the Publications page. Among them, the document on the quantitative impact of IFRS’ first adoption must be highlighted, since it means one of the first quantitative assessments of IFRS impact in Europe, using IFRS-compliant real financial statements.

For further information about the WG activities, you can contact your national representative: members