Q1. What is XBRL Europe?
XBRL Europe has been founded as an international non-profit association based in Brussels under Belgian law in accordance with the Law of 27 June 1921 on Non-Profit Associations, International Non-Profit Associations and Foundations.
Q2. What are its objectives?
The organisation’s objectives are as follow:
- To promote a platform for the creation and exchange of business and financial information including the development and maintenance of the XBRL standard, working under the auspices and within the procedures of XBRL International
- To promote and support the standardization of electronic financial and business information in Europe through the use of the XBRL standard.
- To support the reduction of the regulatory burden by taking advantage of the XBRL standard.
- To support its Members in communication, dialogue, representation and co-operation in matters of a European nature to the benefit of the Members and the XBRL standard.
- To support European regional XBRL projects to ensure collaboration and enhancing consistency.
- To develop European XBRL Taxonomies and contribute to the harmonization of national implementations, with special focus on cross-border companies and institutions.
- To promote and contribute to the development of new and existing European XBRL Members.
- To support all other activities within Europe for the advancement of the XBRL standard.
Q3. Who can become a member?
Established and provisional Jurisdictions of XBRL International, any public or private entity, interest group or individual of which the registered office, principal place of business, or headquarters is located in Europe, or an association composed of public or private entities, can become a Direct Association Member of XBRL Europe. A new status of provisional direct member has been set up for small companies (TO less than 1,5 M€) in countries without juridictions or in which the juridiction is not a member of XBRL Europe.
Q4. How does my organisation apply for membership?
Q5. What is the governance structure of XBRL Europe?
The official bodies of the Association are:
- the General Assembly,
- the Executive Committee,
- the Secretariat General.
Q6. How XBRL Europe is managed?
A Secretary General is running the organisation.
Q7. How is XBRL Funded?
XBRL Europe is funded through the membership fees of its members and also through a portion of the surplus from the XBRL International Conference organised in the European jurisdictions members of XBRL Europe. The amount of the membership fees is 5.000 € per year per organisation (2.500 € for provisional direct members).
Q8. Is XBRL Europe a member of XBRL International?
No. XBRL Europe is neither a Jurisdiction nor a direct member of XII. It is its own autonomous legal entity. XBRL Europe does not have a seat on the Member Assembly of XII nor does it have its own voting rights at XII.
Q9. Is XBRL International a member of XBRL Europe?
Yes. XBRL International is a member of XBRL Europe and has voting rights in XBRL Europe.
Q10. Are the European jurisdictions of XBRL International members of XBRL Europe?
XBRL International jurisdictions are not automatic members of XBRL Europe. They are eligible for membership upon submission of an application to XBRL Europe and upon satisfaction of the entry criteria set out in the XBRL Europe bylaws. However, the definition of a jurisdiction and the list of jurisdictions is maintained by XBRL International.
Q11. Can members of XBRL Europe participate in XBRL International?
Jurisdiction membership of XBRL Europe does not affect the rights and obligations of members of XBRL International to participate in XBRL International.
Q12. Why does para 4.3 of the XBRL Europe Bylaws consider Europe as a geographic concept and not simply the 27 member states of the European Union?
The main objective of XBRL Europe is to support development and adoption of XBRL within the European Union. The concept of “Europe” was broadened as to include nations that are not members of the European Union (eg Switzerland, Norway) so as to foster co-operation and adoption within these states.