DVFA calls for uniform EU quality assurance software for ESEF financial and ESRS sustainability reports from ESMA
March 8. 2024. As part of the ESMA consultation on the new European Single Access Point (ESAP), the DVFA, the association of investment professionals in Germany, criticized the lack of a quality assurance system as a serious design flaw in the ESAP. The DVFA Commission for Corporate Analysis, of which I am a member and […]
EU national law Extensions of the IFRS XBRL Taxonomy
February 28, 2024. When preparing the DVFA (German Association of Investment Professionals) statement for the ESMA consultation on the ITS of the new European Single Access Point, I came across the following question (Q24): “Do you think that information required at national level pursuant to Article 3(1) of the Transparency Directive (so-called gold plating) should […]
How XBRL can significantly improve the European Capital Market – annual financial reports
December 20 2023. This was an exciting event at the Financial Conduct Authority (FCA) in 2009. Some of my statements from back then, some of which are unfortunately still relevant in Europe today: “In the US negative feedback of Investment Professionals had been received (see documents of the CFA Institute for example). Consequently they added […]
The complexity of ESEF harmonization
Paris, June 14 2022. With the introduction of the European Single Electronic Format (ESEF) for the annual financial reports of listed companies, the European Parliament aims to improve the transparency of the capital markets, especially for small and medium-sized listed companies, to reduce information costs and to enable comparability of financial reports, among other things. […]
EFRAG: Digitalization readiness-check of the very first draft of the new ESRS
June 13 2022. During the development of the new European Sustainability Reporting Standards (ESRS) within EFRAG, I had the opportunity to review a very first draft of the ESRS as one of four selected XBRL experts. As part of the digitalization readiness-check we looked at each ESRS data point individually. We then provided feedback and […]
Recommendation of an Europol Expert Group on criminal finance, money laundering and asset recovery to the EU Commission
October 30 2020. Within the CFMLAR project – Criminal Finance, Money Laundering and Asset Recovery-, I was asked to lead an Europol Expert Group of technical experts from the national federal criminal investigation offices in Europe. CFMLAR is part of EMPACT, the European Multidisciplinary Platform Against Criminal Threats. Over several years of work, we have […]
Workshop at EFRAG offices: Harmonizing the National Extensions of the IFRS-XBRL-Taxonomy in Europe
Brussels, May 26 2010: At the invitation of EFRAG, a workshop was held by XBRL Europe, in which EFRAG employees, chairman Mrs. Françoise Flores and former chairman Mr. Stig Enevoldsen took part. As head of the XBRL Europe working group IFRS for Listed Companies, we discussed challenges, risks and strategic alternatives for future reporting of […]