ESMA updated the reporting manual on the European Single Electronic Format (ESEF). The update expands existing guidance and reflects relevant developments in the technical specifications. New additions to the updated manual include guidance on naming conventions for extension taxonomy files and definition of extended link roles in extension taxonomies. The manual is intended to assist issuers and software vendors in creating Inline XBRL documents that are compliant with the regulatory technical standards on ESEF. The manual was originally published by ESMA in December 2017 and the later updated in July 2019.
The reporting manual on ESEF provides guidance on common issues that may be encountered when creating Inline XBRL documents and explains how to resolve them. The purpose of the manual is to promote a harmonized and consistent approach for preparation of annual financial reports in the format specified in the regulatory technical standards on ESEF. The guidelines in this manual are aimed to facilitate the analysis and comparison of XBRL data contained in Inline XBRL documents by investors and other users. The manual provides guidance on the expected syntax and structure of Inline XBRL documents and issuers’ XBRL extension taxonomies. Understanding of certain highly technical parts of the manual requires the reader to have a working knowledge of the XBRL 2.1, XBRL Dimensions 1.0, Inline XBRL 1.1, and other XBRL specifications, to be familiar with the IFRS Taxonomy, and to have a basic understanding of XML, Namespaces, and XML Schema. The ESEF reporting manual is aimed at all market participants involved in the implementation of the requirements set out in the ESEF Delegated Regulation, particularly in the first-time preparation of IFRS consolidated financial statements in Inline XBRL.
Keywords: Europe, EU, Banking, Insurance, Securities, Reporting, ESEF, IFRS, ESEF Regulation, Regulatory Technical Standards, IFRS Taxonomy, ESMA
EBA finalized the two sets of draft regulatory technical standards on the identification of material risk-takers and on the classes of instruments used for remuneration under the Investment Firms Directive (IFD).
EC published, in the Official Journal of the European Union, a notification that the European Court of Auditors (ECA) has published a special report on resolution planning in the Single Resolution Mechanism.
BoE published a scenario against which it will be stress testing banks in 2021, in addition to setting out the key elements of the 2021 stress test, guidance on the 2021 stress test, and the variable paths for the 2021 stress test.
PRA published a consultation paper (CP3/21) proposes rules regarding the timing of identity verification required for eligibility of depositor protection under the Financial Services Compensation Scheme (FSCS).
FSB published the work program for 2021, which reflects a strategic shift in priorities in the COVID-19 environment.
FCA announced that 50% firms have started using the new data collection platform RegData, which is slated to replace the existing platform known Gabriel.
Bundesbank published Version 5.0 of the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system.
FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.
ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.
ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.