How will ESEF affect you?
As of 2020, the European Securities Markets and Authorities (ESMA) issued the ESEF standard which requires all issuers on EU regulated markets to prepare and file annual consolidated financial reports in Inline XBRL (iXBRL) format.
Due to the difficulties posted by the pandemic on both issuers and auditors, the ESEF requirements were postponed in most countries in Europe, by one year till 2021. This means that all annual financial reports beginning on or after 1st January 2021 must be submitted in iXBRL format to comply with the ESEF standard.
This means that if your company has securities listed on any EU stock exchange, you must comply with the ESEF standard.
A streamlined workflow towards ESEF reporting
With CFOUR Comply, we focused on simplifying the process, that you as the issuer need to follow to generate an ESEF submission, which is ready to be published to your regulator as well as on your website.
Our cloud solution handles everything from precise conversions of your annual report in PDF format to HTML and providing you with an intuitive interface to tag your financial statements within the report. After you tag your report and fix any validations issues, you can download the XBRL generated by Comply and proceed with the submission.
Flexible options to help you comply with ESEF requirements
We offer different solutions to issuers depending on the needs you may have as well as how closely you would like to be involved with the technicalities of ESEF.
You can either make full use of our bolt-on solution to tag your annual report with the ESEF or any other taxonomy, or you can also send us your annual report and let our experts do the tagging on the report for your review.