Globally the introduction of new regulatory frameworks have traditionally ignited, or even demanded, innovation in organizations and the acceptance of new technologies.
In the United States, the Sarbanes Oxley legislation (SOX) came into force in 2002 and introduced major changes to the regulation of financial practice and corporate governance; regulatory changes that significantly heightened the awareness and adoption of risk management frameworks.
In the European Union (EU), the continued progression towards an effective harmonization of regulatory frameworks for financial services, and the imminent implementation date for Solvency II, is poised to create a similar level of heightened awareness and adoption of risk management frameworks in many countries.
Standardization is key to enable corporate responsibility and integrated reporting, lower the compliance burden on companies and encourage business process innovation.
The Reporting taxonomies have the potential to provide the basis for a corporation to standardize on a common language of risk and controls, compare the results of risk and control initiatives between companies, and provide the ability to integrate information between various Reporting systems.

Join us for this open workshop to learn about current initiatives, hear from experts, regulators, practitioners, and key stakeholders.

International Initiatives (Theatre)
Friday 2012/06/01
09:00 - 09:05	Opening remarks: Objectives and Brief intro to Program of the day, Logistics Enrique Bonsón (University of Huelva)
09:05 - 09:35	Governance, Risk and Compliance (GRC taxonomy): Own Risk and Solvency (ORSA extension) John Dill, Said Tabet (www.oceg.org) To learn more: iBR magazine, Feb 2012, Pages 22-29
09:35 - 10:05	Global Reporting Initiative (GRI taxonomy): Sustainability performance of companies Dave Van den Ende (tbc) (www.globalreporting.org) To learn more: iBR magazine, Feb 2012, Pages 14-16
10:05 - 10:35	World Intellectual Capital/ Assets Initiative: Key Performance Indicators Stefano Zambon. (www.wici-global.com) To learn more: New Horizons for Company Reporting
10:35 - 11:00	Coffee break
11:00 - 11:30	Integrated Reporting: Scoreboard of Financial, Environmental, Social and Governance Indicators (FESG) José-Luis Lizcano (AECA), Enrique Bonsón (AECA). To learn more: AECA to IIRC Discussion Paper
11:30 - 12:25	Integrated Risk Reporting: Implications and Challenges Panel moderated by Eric Cohen. Also with Tomás Conde (BBVA Bank, Sustainability Director) and Ann Henstrand (ACORD, Chief Compliance Officer).
12:25 - 12:30	Break
12:30 - 13:25	Practical demos by XBRL experts: usability, interoperability, availability... H. Fischer (Arelle) M. Goto (Fujitsu) M. Mora (AtoS) - Practical use of Dimensions, Formulae and Data Point Modelling in Integrated Reporting Taxonomy (IS-FESG)
13:25 - 13:30	Closing of the XBRL week in Madrid Enrique Bonsón (XBRL Spain, Vice-Chair)