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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. These goals can only be achieved if listed companies apply ESEF uniformly in Europe and it is technically ensured that a minimum quality is maintained. In my opinion that is not the case at present. The reasons for this situation lie in particular in legal gaps, as the German Association of Investment Professionals (DVFA) has communicated several times in public statements. I already described this obvious problem in my article for the German Börsenzeitung in 2017. An EU-wide harmonization of the legal gaps is necessary

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June 15, 2022

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 recommendations to responsible cluster members. With our recommendations on possible adjustments to the ESRS texts, we have pursued the goal of creating the basis for the best possible digitalization capability of the new ESRS. source: EFRAG, Digitisation of the European Sustainability Reporting Standard (ESRS), see slide no 6, Paris, June 13th 2022 ← back 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

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June 13, 2022

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 developed joint recommendations. The expert group adopted this in our last workshop from October 28th to 30th, 2020 at the German Federal Criminal Police Office (BKA) in Wiesbaden. Our recommendations were then handed over to the EU Commission.   ← back 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

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October 30, 2020

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 IFRS consolidated financial statements in Europe based on the XBRL technology. Source: Kesselmeyer, Harmonizing the National Extensions of the IFRS-XBRL-Taxonomy in Europe – Is an EU extension of the IFRS taxonomy the solution? – Who can take over the responsibilitiy for Europe?, presentation within XBRL Europe’s workshop at EFRAG offices, Brussels, May 26 2010 ← back 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

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May 26, 2010
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