ESEF stands for European Single Electronic Format. It is a format of reporting that will be mandated by the European Stocks and Markets Agency (ESMA) for all Annual Financial Reports from 1st of January 2020.
Why is ESEF and iXBRL the format in which annual financial reports and financial statements is to be submitted to the regulators? Learn more about advantages for the regulator, issuers and consumers.
Any company, regardless of whether their registered office is in the EU or in a third country, with securities listed on a regulated UK or European exchange will be required to conform to ESEF reporting requirements.
The online ESEF pack filed through the OAM will need to consist of Annual Financial Report in XHTML and Statutory financial statements of the legal entity in iXBRL (using right taxonomy)
Companies have multiple options to consider when it comes to preparing their annual reports in ESEF format. The best option will depend on the resources available in house.
