Click to view our recent webinar or to download our presentation
ESMA, ESEF and Corporate Reporting
In May 2019, the European Parliament enacted the transition to a new European Single Electronic Format (ESEF), led by the ESMA. From 2021, all European main-listed companies will need to prepare Annual Reports in the ESEF format, which is based on the iXBRL standard and requires a final xHTML format. ESMA’s ESEF Taxonomy for tagging data is largely based on the IFRS taxonomy and requires XBRL tagging of key elements within the Annual Report.
What are XBRL and xHTML?
- XBRL (eXtensible Business Reporting Language) is a standard used to translate any human-readable information into machine language.
- This translation requires a dictionary, which in financial terms is a taxonomy, with data in the Report tagged to financial concepts from that taxonomy via a tagging software;
- xHTML (eXtensible HyperText Markup Language) is close to HTML but has stricter requirements and is supported by all major browsers.
Reports will be published in an online National Storage Mechanism, capable of being easily searched. Longer term, this will enable users to perform comparisons between companies using tagged data to make those searches relevant and meaningful, allowing for example, investors to create comparisons between companies and understand key metrics more quickly and easily, aiding investment decisions.
How can we help?
Black&Callow and our partners, ARKK Solutions, provide an end-to-end solution:
- A considered, Best Practice approach to your Report and its data by a team with over fifty years’ experience in Corporate Reporting
- Complete xHTML output with embedded XBRL tagging to meet ESEF requirements
- Conversion and tagging from PDFs or InDesign files, simplifying the process
- 100% tagging guarantee from an experienced team based in the UK
- Conversion for tagging within 24 hours, with rush/QTA turnaround if required via our unrivalled in-house typesetting team, the largest of its kind in Europe
- All backed-up by a wide range of Corporate Reporting services including design, content consultancy, typesetting, printing, mailing and web versions.
For more information, please contact Tim Black on +44 (0)20 3794 1720 or via email@example.com.