Valerio Zappalà, General Manager of InfoCamere, Luis Fernández del Pozo, Director of the Colegio de Registradores de Espana (the association of Spanish company registrars), Philippe Bobet, Vice President of the National Council of French Commercial Courts and Pascal Daniel, President by Infogreffe (which brings together the chancelleries of the French commercial courts) today in Venice signed a trilateral agreement for the exchange of official economic information from their respective registries in Xbrl format.
As known, Xbrl is the processable electronic "language" for presenting financial statements, which allows for a shared structure for coding and presenting accounting data.
This partnership between Italy, Spain and France, signed in the presence of Roberto Crosta, Secretary General of the Chamber of Commerce, follows the one signed last July in Paris with Infogreffe. Today's agreement is implemented in line with the draft European directive, which through the interconnection of the various registers aims to make commercial transactions simpler and to favor financial transparency; a path that intends to extend as soon as possible to other European countries, such as Germany and the United Kingdom, with the aim of a true European network of business registers.
The occasion was also announced creation of the “Club of European Registries”, to support the exchange of good practices for administrative simplification, for improving the quality of data on companies, and for the definition of common positions at the tables of EU legislative negotiations.
The advantages that will derive from it for the economic operators and for the wider audience of the European institutions are evident, allowing access to official information on companies not only to existing or potential entrepreneurs or their partners, but also to the various entities concerned from time to time, such as tax administrations or judicial authorities.
