9th International XBRL Conference
Statistics New Zealand and XBRL
9th International XBRL Conference
Presentation OutlineOverview of Statistics New Zealand and the existing
financial data collection framework Who is Statistics NZ What are our financial data collections Compliance costs Trying to be flexible in our data collection strategies
How XBRL will fit into or even change this framework External drivers for XBRL uptake Benefits of XBRL in a data collection context Taxonomies An example of XBRL being used to meet survey requirements Looking forward
9th International XBRL Conference
Overview of Statistics New ZealandStatistics New Zealand (Te Tari Tatau) is a government
department and New Zealand's national statistical officeThe Statistics Act 1975 sets out the Government
Statistician's role in, and responsibilities for, all official statistics
To meet its responsibilities under the Act, Statistics New Zealand's main roles are to;
Provide leadership for New Zealand's official statistics. Be the key contributor to the collection, analysis and dissemination of
official statistics relating to New Zealand's economy, environment and society.
Build and maintain trust in official statistics. Ensure that official statistics are of high integrity and quality and are
equally available to all.
9th International XBRL Conference
Top Down ReviewStatistics NZ, Treasury and State Services Commission
participated in a review of New Zealand’s official statistics system
Main initiatives to come out of this review Establishing a new model for official statistics Leadership by the Government Statistician Monitoring respondent burden across Government Establishing an Independent Statistical Advisory Committee Establishing a research data archive
9th International XBRL Conference
Compliance Costs of SurveysStatistics NZ is acutely aware of the compliance burdens
facing our survey respondents
Because of New Zealand’s small size even medium sized business can be key contributors in sample surveys
Some industries are surveyed more intensely than others
Some ballpark figures that relate to Statistics NZ’s direct surveying activity
130000 enterprises directly surveyed each year across 32 surveys Paper forms average between 25 and 30 minutes to complete Approximately 60000 hours or 7500 working days or 50 person years!!
9th International XBRL Conference
Compliance Reduction StrategiesSmall businesses
Reduce compliance through use of administrative data Simple standard XBRL based templates
Large businesses Tailored collection options XBRL Initiators
Medium businesses Easy to supply options from standard business records XBRL omnibus reporting for multiple surveys
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Financial Data CollectionsFinancial data is mostly collected to produce National
Accounts statistics which are based around an International Framework
The Annual Enterprise Survey is the largest comprehensive annual financial survey of New Zealand businesses.
20500 direct survey units supplemented by 225000 IR10 units Collects income, expenditure and balance sheet information from industry
groups within the economy
Less detailed subannual financial information collected by industry (manufacturing, retail and wholesale)
9th International XBRL Conference
Accepting Alternatives to the QuestionnaireThe primary source for direct survey data is paper forms
The two main alternatives are electronic reports and hardcopies of accounts
Accounts are often actively solicited from potential non-respondents in order to achieve corporate response rates
Electronic reports are most often MS Excel spreadsheets Often larger respondents reporting for a number of survey units Statistics NZ has strict guidelines on the acceptance of electronic data in
terms of both security and authentication
Also take data over the phone and sent by email
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Problems Accepting Ad Hoc FormatsAccounts
High internal processing overhead Do not always match survey variables Consolidation issues
Spreadsheets Often have unique layouts and formats Need to be customised by Statistics NZ to fit into predefined bulk loading
processes Not all questions answered (eg GST, reporting period)
Phone and email Often unstructured and has gaps More likely to be an estimate or a guess Email poses security risks
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XBRL Environment Compliance costInternational Accounting Standards
Mandatory in NZ from December 2007 Early adoption from December 2005
Increasing number of offshore collection units New Zealand as a branch office
Cross Agency reporting Opportunity for single point reporting - IRD, CO, NZX, etc
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XBRL - Benefits for Data SuppliersAssuming that ...
XBRL is integrated with accounting/reporting software Everyone is using the same taxonomies
Information may only need to be rendered once A single report could meet the requirements of multiple agencies
The effort required to produce reports could be greatly reduced
After initial set up reports could be generated automatically Changes in Statistics NZ requirements could feed through automatically to
collections
9th International XBRL Conference
XBRL - Benefits for Statistics NZTimeliness
Data could be made available right at the end of the reporting period
Transparency Know exactly what items have contributed to particular variables
Lower processing costs No longer structure or format dependent
New statistics without surveying Low level data could be reassembled to meet different needs
More consistent data Automation of data supply eliminates human error Coherence at the unit record level
9th International XBRL Conference
TaxonomiesCollection Taxonomies
Reuse of future Industry standard taxonomies, e.g. payroll May be a government wide taxonomy Total picture of requirements matched to what existing taxonomies can
provide
Publishing Taxonomies Will need to create a supplementary taxonomy for publishing statistical
data International taxonomies for national statistical agencies
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Example - Quarterly Local Authority SurveyCurrently a spreadsheet completed by Auckland City
Council 3.5 hours to complete
44 variables based on accounting items from both the Income and Expenditure, and Fixed Asset schedule
Not including comments and other metadata
IT service provider :UBMatrix Wiztech providing XBRL expertise Auckland City Council - SAP/excel to XBRL Statistics NZ - XBRL to Sybase
9th International XBRL Conference
Initial XBRL Data Collection Architecture
XBRL Instance
Document
Excel tagged
to XBRL
SAP
Excel File
Sybase
Stats Gate
XBRL Instance
Document
.Netweb
serviceS
NZ
Firew
all
9th International XBRL Conference
How the Exchange Might WorkAuckland City Council provides an Excel output from SAP
2002/3 data
Excel tagged as XBRL and an instance document generated
Instance document sent to Statistics NZ via StatsGate StatsGate is a pre-existing secure data lodgement facility
Instance document unravelled and loaded to Sybase Sybase table planned to be the single data entry point for survey systems
to interact with
9th International XBRL Conference
What We Have Learned So FarReceiving electronic files is relatively straight forward
It’s something we do already A fully automated end to end process is not likely in the short term
There is a significant overhead associated with supplementing the existing taxonomies with Statistics NZ elements
Of the 44 variables 24 had to be defined separately as Statistics NZ elements
These 24 are spread evenly through income, expenditure and fixed assets
Some financial surveys may be more suited to XBRL sourced data than others
Balance of Payments vs Quarterly Local Authority Survey
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A hypothetical example of how Statistics NZ data requirements may not match IFRS/NZ GAAP
Supplementary Taxonomy
Salaries
WagesSalaries WagesSalariesHonoria
Redundancy Payments
Contract Freight
Rental
Subvention Payments
Bad Debts
operatingExpenses otherExpenses
operatingExpenses otherExpenses
NonOperating Expenditure
Statistics NZ Elements
IFRS/NZGAAP Elements
Ledger Items
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XBRL - One Mode of ManyStatistics NZ will still receive paper questionnairesAlong with XBRL Statistics NZ may receive other
electronic modes Spreadsheets designed by Statistics NZ in a tailored environment Internet forms
Telephone interviewingRegardless of the mode Statistics NZ wants to have one
inwards data flowXBRL may provide Statistics NZ with a better way of
integrating data from multiple sourcesXBRL tags could potentially be applied to statistical output
data from all sources
9th International XBRL Conference
Multi-Modal Data Collection Concept
InformationProviders
Respondents
Suppliers, Users, Government , etc
Futu re Methods
eg, TDE XBRL
Secure DepositBox
CATI/TDE
E-forms
Paper
C
H
O
I
C
E
SNZ
Existing
Survey
Processing
Systems
Imaging Cen tre
Phone Collection
E-gate
Providers
Existing Output and
Dissemination Processes
Strategic Overview
Multi-Modal & Data Collection Project
Provider & SNZInteraction
Multi-ChannelCommunication
AdministrativeData
CRM Facility
9th International XBRL Conference
Issues We are Still Thinking AboutUptake – How can we promote XBRL
SMEs versus larger businesses Financial software packages
Fully automated transactions Moving towards meeting statutory obligations online
Mode effects More accurate data may result in revisions to time series
9th International XBRL Conference
Statistics NZ’s and XBRLContinue building a picture of our future Data Collection
environmentIdentifying critical implementation issues
Realising XBRLs potential to meet our collection challenges
Collaboration Common taxonomy across Government Collaborate with other statistical agencies
XBRL potentially offers so much in terms of reduced compliance costs, transparency, accuracy and timeliness.
9th International XBRL Conference
Questions