Frizt Witt - track 4 - 19th XBRL Conference Paris

Track: Title: Innovations in the credit chain Speaker: Fritz Witt – June 25th 2009 Speech on behalf of Datev and URA Rating Agency® The URA Rating Agency is convinced that the accountant will be the most important player within the rating industry in the near future Because only an independent and neutral intermediary such as an accountant is able to deliver the quality of the data that banks and CAI’s (credit assessment institutions) need to produce a reliable rating within a transparent rating process Business Operations Processes XBRL Participants Internal Financial Reporting XBRL External Financial Reporting Investment Lending, Regulation XBRL XBRL Financial Publishers and CAI’s Companies Trading Partners Management Accountants Software Vendors Auditors Regulators Economic Policymaking Banks Central Banks Source DNB The influence of Basel II on companies Banks PR internal external Credit conditions Marketing purposes Asset management Capital market Participations intangible assets working capital Risk and performance management Access capital market and private equity Company Purchasing Information Insurance Supplier ratings Buyers cooperative Credit scoring Suppliers Management Buyers Client Value chain Value chain Value chain Bank Client Accountant Bank Client Accountant Bank Client Accountant Intermediary Bank Intermediary or accountant Mediation: Alternatives: • Other kind of loan •Grants • Other bank •Private Equity • Risk PD / LGD • Monitoring • Credit advice Credit applications against lowest costs integrated with the front offices of the banks (term sheets execution etc.) Bank • Mezzanine Value chain Client Accountan assessed XBRL reports unassessed XBRL raports t URA Rating factory Financial advisor Bank  Summarizing: ◦ Together with local players Datev /URA is able to reduce considerable regulatory burden and processing cost ◦ Improvement of the quality of the data by means of several assessment techniques like:  Data level assessments  Process controlls  Quality level agreements of the XBRL reports  Reference ratings according to world class standards Fritz Witt CRA E-mail: fritz.witt@uraratingagency.nl Phone: +31 (0)10 - 2489680 ... Quality level agreements of the XBRL reports  Reference ratings according to world class standards Fritz Witt CRA E-mail: fritz .witt@ uraratingagency.nl Phone: +31 (0)10 - 248 9680 ... process Business Operations Processes XBRL Participants Internal Financial Reporting XBRL External Financial Reporting Investment Lending, Regulation XBRL XBRL Financial Publishers and CAI’s Companies... (term sheets execution etc.) Bank • Mezzanine Value chain Client Accountan assessed XBRL reports unassessed XBRL raports t URA Rating factory Financial advisor Bank  Summarizing: ◦ Together