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 […]
Future European Single Access Point (ESAP) – draft directive from the EU Commission
Last week, on November 25th, 2021, the EU Commission adopted a comprehensive package of measures with the aim of improving the transparency of company and commercial data. Part of this package of measures are the draft guidelines for the European Single Access Point (ESAP), which are now available. Among other things, a central access option […]
EU Commission: Proposal for a directive on corporate sustainability reporting
April 21, 2021. The Commission has adopted a proposal for a Corporate Sustainability Reporting Directive (CSRD) that would amend existing reporting requirements under the non-financial reporting directive. The proposed directive extends the scope of application to all large companies (more than 500 employees) as well as all companies listed on regulated markets (except listed micro-enterprises), […]
DVFA statement on the consultation of the EU Commission “European Single Access Point (ESAP)” – 2021
The German association of Investment Professionals (DVFA) commented on the EU Commission’s consultation in January 2021 on the establishment of a “European single access point (ESAP) for financial and non-financial information publicly disclosed by companies”. The Corporate Analysis Commission, of which I am also a member, has commented on this in detail. The statements of […]
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 […]
DVFA statement: German draft bill on annual financial reports (ESEF)
October 16 2019. The German Association of Investment Professionals (DVFA e.V.), and here the Corporate Analysis Commission, of which I am a member, commented on the German draft law for the further implementation of the Transparency Directive – amendment directive with regard to a uniform electronic format for annual financial reports – dated October 16, […]
Börsenzeitung: IFRS consolidated financial statements soon with iXBRL – digital transformation of financial reporting with obstacles
“The digital transformation is imminent for the traditional processes, starting with the preparation of the consolidated financial statements, the audit, the publication and right up to their use by investment professionals. Sure, there are consolidated financial statements in PDF format for download, balance sheets prepared in spreadsheets for investors, fee-based databases for investment professionals, but […]
Börsen-Zeitung: Structured and uniform data format from 2020 – IFRS consolidated financial statements soon with iXBRL
Digital transformation of financial reporting with obstacles Börsen-Zeitung, June 10, 2017. The digital transformation is ahead of traditional processes, starting with the preparation of the consolidated financial statements, the audit, the publication and right up to their use by investment professionals. Sure, there are consolidated financial statements available for download in PDF format, balance sheets […]
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 […]
ZfCM: Potential of XBRL for corporate controlling, for venture capital companies and for BSC projects
Extracts: “…Despite the existence of ERP systems, XBRL offers advantages: When standardizing processes and data across company groups and reducing manual processes When redesigning the creation processes of consolidated financial statements using XBRL …The systematizing assessment by Ramin/Kesselmeyer/Ott about the possible applications of XBRL in internal company reporting shows that the following two controlling areas […]