July 12, 2019

ESMA updated the reporting manual for European Single Electronic Format (ESEF). Through this manual, ESMA intends to assist issuers and software vendors in creating Inline eXtensible Business Reporting Language (XBRL) documents that are compliant with the regulatory technical standards on ESEF. The manual provides guidance on issues commonly encountered when generating Inline XBRL instance documents in compliance with the ESEF regulation. The manual is relevant for all market participants involved in the implementation of the requirements set out in the ESEF regulation and in particular in the first-time preparation of IFRS consolidated financial statements in Inline XBRL.

The guidelines defined in this manual are intended to facilitate the analysis and comparison of the XBRL data contained in Inline XBRL documents by computer applications and human readers. The manual provides guidance on the expected syntax and structure of Inline XBRL documents and issuers’ XBRL extension taxonomies. It contains parts that are of a highly technical nature and are intended for a technical audience. It is assumed that the reader has a working knowledge of the XBRL 2.1, Inline XBRL 1.0, and the XBRL Dimensions 1.0 Specifications; is familiar with the IFRS Taxonomy; and has a basic understanding of XML, Namespaces, and XML Schema. 

ESMA had originally published this manual in December 2017. Following feedback from market participants, ESMA decided to publish a revised version of the manual to expand existing guidance and update the guidance included in the original publication. ESMA will continue to monitor relevant markets developments and gather feedback on issues frequently encountered. Where relevant and/or necessary, ESMA will provide further guidance to the public.

The regulatory technical standards on ESEF, which were published on May 2019 in the Official Journal of the European Union, specify that all issuers that are subject to the requirements in the Transparency Directive to make public Annual Financial Reports shall prepare annual financial reports in the Extensible Hypertext Markup Language (XHTML) format. Where an issuer prepares IFRS consolidated financial statements, it shall mark up these IFRS consolidated financial statements using the XBRL markup language. The markups shall be embedded in the XHTML document version of the annual financial report using the Inline XBRL format.

 

Related Links

Keywords: Europe, EU, Accounting, Banking, Insurance, Securities, Reporting, IFRS, Inline XBRL, ESEF Regulation, ESEF

Related Articles
News

HKMA Revises Implementation Schedule for Initial Margin Rules

HKMA intends to adopt a revised implementation schedule for the margin requirements for non-centrally cleared derivatives.

August 16, 2019 WebPage Regulatory News
News

FASB Proposes to Extend CECL Standard Deadline for Certain Entities

FASB proposed an Accounting Standards Update that would grant private companies, not-for-profit organizations, and certain small public companies additional time to implement FASB standards on current expected credit losses (CECL), leases, and hedging.

August 15, 2019 WebPage Regulatory News
News

IASB Adds Phase Two of IBOR Reform to Its Work Plan

IASB (or the Board) has added the second phase of its project focused on potential financial reporting implications linked to the interest rate benchmark reform—interbank offer rate (IBOR) reform—to its work plan.

August 15, 2019 WebPage Regulatory News
News

FED Updates Draft Instructions for Proposed FR Y-14 Reporting Forms

FED updated draft instructions for the monthly, quarterly, and annual capital assessments and stress testing reports, also known as forms FR Y-14M, FR Y-14Q, FR Y-14A, respectively.

August 15, 2019 WebPage Regulatory News
News

APRA Applies Additional Capital Requirement for an Australian Insurer

APRA decided to apply an additional $250 million capital requirement to Allianz Australia Limited to reflect the issues identified in the risk governance self-assessment by the insurer.

August 14, 2019 WebPage Regulatory News
News

APRA Consults on Final Phase Margin Rules for Uncleared Derivatives

APRA is consulting on amendments to the prudential standard CPS 226 on margin and risk mitigation requirements for non-centrally cleared derivatives.

August 14, 2019 WebPage Regulatory News
News

BCBS FAQs on Implementation of Operational Risk Capital Requirements

BCBS published the first set of frequently asked questions (FAQs) to facilitate consistent global implementation of the standardized approach for operational risk capital.

August 14, 2019 WebPage Regulatory News
News

MAS Publishes Rules on Single Counterparty Credit Limits for Banks

MAS published Notice 656 on rules to measure and limit exposures to a single counterparty group for banks incorporated in Singapore.

August 14, 2019 WebPage Regulatory News
News

BoE Publishes Actual and Indicative MREL for Banks in UK

BoE published actual and indicative minimum requirements for own funds and eligible liabilities (MRELs) for UK banks and buildings societies that have bail-in or partial transfer resolution strategies.

August 14, 2019 WebPage Regulatory News
News

OSFI Sets Out Plans for Implementation of Insurance Contracts Standard

OSFI published a letter that provides an update on the milestones completed and the activities underway with respect to the implementation of the insurance contracts standard International Financial Reporting Standard (IFRS) 17.

August 13, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3638