eurofiling initiative. xbrl week xbrl integrated scorecard for financial and sustainability...
TRANSCRIPT
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
Agenda
• AECA: profile and purpose• CSR project, combining frameworks• Central Scorecard project, exploring reality• Integrated Scorecard, the next step
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
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
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
CSR project, combining frameworks
CSR project, combining frameworks
CSR project, combining frameworks
DataData
Not available
Not applicableNot applicable
DataData
Not available
Not applicableNot applicable
• measure transparency levels•Check difficulties measuring•Explore industry extensions
=
Feedback for framework evolution
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
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)
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
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
Public repositorywww.aecareporting.com
Integrated Scorecard
FinancialFinancial
CII (IS)CII (IS)SocialSocial EnvironmentalEnvironmental
Corporate GovernanceCorporate
Governance
Integrated Scorecard
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
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