eurofiling initiative. xbrl week xbrl integrated scorecard for financial and sustainability...
TRANSCRIPT
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Eurofiling Initiative. XBRL week
XBRL Integrated Scorecard for Financial and Sustainability Reporting
Madrid, June 1st, 2012
Enrique Bonsón. University of HuelvaJosé Luis Lizcano. AECA
www.aeca.es
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Agenda
• AECA: profile and purpose• CSR project, combining frameworks• Central Scorecard project, exploring reality• Integrated Scorecard, the next step
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AECA: profile and purpose• Asociación Española de Contabilidad y
Administración de Empresas• Spanish Accounting and Business
Administration Association• Founded in 1979• Declared as of public utility• Influencing regulatory bodies• More than 5000 individual and corporate
members
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AECA: profile and purpose• During the 1980´s, its contributions to
accounting principles highly influenced the redaction of Spanish GAAP.
• Later, AECA extended its interest to Corporate Social Responsibility issues, towards better transparent corporations and markets
• Goal: promote the use of CSR standards, along with digital standards
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CSR project, combining frameworks
• A selection of international standards• From abstract to concrete indicators• Organizing KPIs by stakeholder,
comprehensive approach• Analyzing reporting practices using triplets
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CSR project, combining frameworks
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CSR project, combining frameworks
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CSR project, combining frameworks
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• measure transparency levels•Check difficulties measuring•Explore industry extensions
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Feedback for framework evolution
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CS project, exploring reality
• From real reporting to KPI´s selection• Not comprehensive, key indicators• Organized by nature (F, E, S, G)• XBRL enabled repository• Success in implementation
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CS project, exploring reality
• Empirical research– target population includes all Spanish companies
quoted in the IBEX 35 Index (Spanish top 35 listed corporations representing a greatly diverse set of industries) on December 28, 2007
– and a significant number of them are listed in various sustainability indexes such as the Dow Jones Sustainability Index (DJSI) and the Financial Times Stock Exchange Index for Social Responsibility (FTSE4Good)
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CS project, exploring reality
• Empirical research– the research team proceeded to download from the
website of each one of the companies their 2007 sustainability reports, published in 2008
– 2 of the 35 companies selected, 5.71%, had no report for the period
– after reading and analyzing the reports the research team determined the final sample of analysis consisting of 14 companies, 40% of the population. This sample corresponds to those companies that identified in their reports a set of key indicators to define CSR practices during that year
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CS project, exploring reality
• Empirical research– the research team composed a set of indicators
based on the reporting practices, adding them up from each companies and avoiding redundancies
– this comprehensive set was sent to the companies for approval, with 21 positive responses (66% of market share)
– final refinement was perform by means of face-to-face meetings with sustainability directors of respondent companies
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Public repositorywww.aecareporting.com
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Integrated Scorecard
FinancialFinancial
CII (IS)CII (IS)SocialSocial EnvironmentalEnvironmental
Corporate GovernanceCorporate
Governance
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Integrated Scorecard
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ComplexReportingLinkbases
Basic Indicators
financial social environmental
Profit People Planet
F1 S1 E1S2
Composed Indicators
Complex Indicators
S1/S2
F1 /(S2+E2)
Pilots
governmental
G1
E1/E2
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Final considerations
• AECA tried to cover the gap detected at the international level
• Focus in both listed companies and SMEs• Combining high quality standards with digital
formats• Open to discussion