What should be included in ESEF report for filing with ESMA?
How to put together ESMA ESEF report in xHTML / iXBRL
What are the requirements in preparing ESEF iXBRL report ?
The RTS on ESEF will apply to all issuers subject to the requirements contained in the Transparency Directive to make public AFRs.
The ESEF requires that:
All AFRs shall be prepared in XHTML, which is human readable and can be opened with any standard web browsers;
Where AFRs contains IFRS consolidated financial statements, these shall be labelled the XBRL ‘tags’, which make the labelled disclosures structured and machine-readable;
The XBRL ‘tags’ shall be embedded in the XHTML document using the Inline XBRL technology, which allows the benefits of XBRL tagged data to be combined with the human readable presentation of AFRs;
Scope of iXBRL tagging for ESEF
In its first year, the mandate for iXBRL tagging of financial statements is limited to primary statements namely income statement, balance sheet, statement of cash flows and statement of changes in equity and shall be marked up in detail. So a company has to submit these four financial statements in iXBRL format on the year 2021.
From the following year, the scope of tagging expands including Notes to Accounts. Notes will need to be marked up by applying mark-ups for whole sections of the notes (block tagging).
The tagging of numbers within the Notes is voluntary.
According to the Transparency Directive, each EU member state will offer an Officially Appointed Mechanism (OAM), responsible for the processing and dissemination of regulated data. Hence there could be potentially additional requirements imposed at each EU member state level.
Additional Information on how to prepare AFR in ESEF format