The ESEF explained
From 2020, all issuers on EU regulated markets will need to file with a new format. See what’s changed.
The ESMA mandate
The European Single Electronic Format (ESEF) is a regulation specified by the European Securities and Markets Authority (ESMA). The ESMA mandate covers all issuers on EU regulated markets. These companies have to file their report in XHTML, which means no PDF or scanned documents.
The key driver for the ESEF is greater transparency. The Transparency Directive requires standardised reporting, consistently structured and accessible across different storage mechanisms.
In addition, companies with consolidated IFRS financial statements are required to include Inline XBRL® within the XHTML, which makes the report machine-readable. This file must be placed with the local regulators and be publicly available.
W for ESEF solves ESEF requirements
Collaborative: Work collaboratively to create your report in a secure cloud environment with version control and audit trail—no on-premise implementation needed.
Compliant: All ESEF compliance requirements can be met with one solution.
Transparent: All reviews and sign-off can be done in one place, making your assurance process easy.
Complete: Workiva is one of the world's leaders in XBRL and iXBRL.
Inline XBRL®, XBRL® and iXBRL® are trademarks of XBRL International, Inc. All rights reserved. The XBRL® standards are open and freely licensed by way of the XBRL International License Agreement.