European Single Electronic Format - ESEF for issuers

Annual financial reports from issuers of the securities traded in the European financial markets must be published in the European Single Electronic Format – ESEF – for financial years beginning on January 1, 2020. In the future, IFRS consolidated financial statements must be published in the form of “Inline XBRL® data” – a “hybrid type” document, on the one hand like a website “readable for human eyes” (xHTML), supplemented by selected machine-readable XBRL®structural information.

anuboXBRL offers issuers the following services in connection with the preparation of the consolidated financial statements:
    • Support with strategic questions:
      • Alternatives for future financial data communication to investors, investment professionals and others
      • Alternatives for future closing processes, IT landscape, data management, interdisciplinary responsibility and know-how
      • Development of a vision, intermediate goals and implementation roadmap
      • Development of detailed technical concepts in joint workshops
      • Identification of risks in detail
    • Support in setting up associated control processes for internal auditing
    • Operational preparation of the financial statements in ESEF format
      • Support in labeling with XBRL structural information from the IFRS taxonomy (“mapping”): consolidated balance sheet, consolidated statement of comprehensive income, consolidated statement of changes in equity, consolidated cash flow statement, notes (from 2022 as a “block”, or voluntarily earlier or more detailed)
      • Creation of the company-specific taxonomy extension
      • Generation of the InlineXBRL data:
        • integrated into the existing annual financial statement preparation process,
          with open source software / commercial software, support with conception, software adaptation or software development if necessary
        • Alternatively: software selection of bold-on solutions
    • Quality assurance of the created ESEF data: instance and company-specific taxonomy extension, compliance with the ESMA Regulatory Technical Standards (RTS) in terms of technology and content, etc.

Talk to an ESEF expert:

literature

Blog

The Committee of European Auditing Oversight Bodies published revised guidelines

Continue reading»

On October 16, 20109, the German professional association of investment

Continue reading»

The DVFA e.V. responded to the the consultation of the

Continue reading»

"The desired economic effects will only materialize insofar as the digital transformation actually reaches data users, investment professionals and investors."