XBRL software development for financial analysis

We help investment professionals to take advantage of the new possibilities and opportunities by providing strategic advice, taking on the technical implementation or accompanying their software developers.

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. 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.

As early as 2009, we have experience with the introduction of XBRL at the U.S. Securities and Exchange Commission collected. We are currently participating in various working groups of the XBRL technology associations in order not only to further develop the US SEC project, but also to promote the implementation of the ESEF project in the European Union. We know the difficulties in detail. But also the new possibilities!

    • Extent of the actual usability and the (current) unusability of the ESEF data.
    • Differences to the “Interactive Data” / XBRL project of the U.S. Securities and Exchange Commission (US SEC) as of 2009:
      • “Leasons Learned” versus “Leasons Not Learned” and the resulting
      • Consequences – on the one hand – for better automated usability and, on the other hand, the non-usability of ESEF data compared to the US-SEC project,
      • e.g. from failed XBRL validations at OAMs (Official Appointed Mechanism) in the EU (see: Statement of the Commission for Enterprise Analysis of DVFA e.V.), (Non-) Enforcement of Filing Rules, Taxonomy extensions / anchoring.
    • new or expanded business models for investment professionals and service providers – sell and buy side,
    • especially in connection with “small & mid-cap companies” in the EU.
    • Selection of software, technical concept, if necessary: open source software and / or support with software development
    • Automated validation of ESEF data
    • Automated and manual processes within the framework of fundamental research, assessment of the company-specific quality of ESEF data

Articles & statements

On October 16, 20109, the German professional association of investment professionals (DVFA e.V.) commented on

Continue reading»

The DVFA e.V. responded to the the consultation of the EU Commission in January 2021

Continue reading»

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