The European Securities and Markets Authority (ESMA) has mandated that all public companies in the European Union must file their annual financial reports in the European Single Electronic Format (ESEF) from 1 January 2021. ESEF is a standard format for digital financial reporting that aims to improve the accessibility, transparency, and comparability of financial information across the EU.

XBRL Center can help companies comply with ESEF requirements. Our reporting software is designed to help companies streamline and integrate all aspects of financial reporting, including data gathering, presentation, and tagging, while ensuring compliance with ESEF requirements.

Companies with transferable securities admitted to trading on UK regulated markets must prepare their annual financial reports in XBRL format for financial years starting on or after 1 January 2021, to publish from 1 January 2022 and to be filed with the FCA’s National Storage Mechanism (NSM). The UKSEF 2022 taxonomy is an extension taxonomy designed for use with the ESEF 2020 accounts taxonomy.

The FCA requires all issuers who produce annual financial reports under their Disclosure, Guidance and Transparency Rules (DTRs) sourcebook to prepare, publish and file those reports in the correct electronic reporting format.

It is mandatory to tag the primary financial statements and the notes to those statements. Annual financial reports must be published and filed in the FCA’s National Storage Mechanism (NSM) in the correct electronic format.

XBRL Center can help companies comply with UKSEF requirements. Our reporting software is designed to help companies streamline and integrate all aspects of financial reporting, including data gathering, presentation, and tagging, while ensuring compliance with UKSEF requirements.

The European Securities and Markets Authority (ESMA) has mandated that all public companies in the European Union must file their annual financial reports in the European Single Electronic Format (ESEF) from 1 January 20221. ESEF is a standard format for digital financial reporting that aims to improve the accessibility, transparency, and comparability of financial information across the EU.

To comply with ESEF requirements, companies must produce their annual reports in XHTML format for individual disclosures.

XBRL Center can help companies comply with XHTML requirements. Our reporting software is designed to help companies streamline and integrate all aspects of financial reporting, including data gathering, presentation, and tagging, while ensuring compliance with XHTML requirements.

The European Union has finalized the Corporate Sustainability Reporting Directive (CSRD) that will introduce more detailed sustainability reporting requirements for EU companies, non-EU companies meeting certain thresholds for net turnover in the EU and companies with securities listed on a regulated EU market 1. The CSRD entered into force on January 5, 2023 and is substantially consistent with the provisional version published in June 2022. The rules will be phased in starting from January 1, 2024 for certain large EU and EU-listed companies, and will apply to all in-scope companies by January 1, 2028.

The scope of required reporting covers environmental, social and human rights and governance factors. Environmental factors include not only climate (including Scopes 1, 2 and 3 greenhouse gas emissions) but also water/marine resources, circular economy, pollution and biodiversity 1. Companies will need to create tags if they have entity-specific disclosures, for which tags are not available in the ESEF taxonomy.

It is mandatory for large companies (listed, >500 employees, or >€500 million annual turnover) to report ESG information in the European Union.

XBRL Center can help companies comply with ESG-XBRL requirements. Our reporting software is designed to help companies streamline and integrate all aspects of financial reporting, including data gathering, presentation, and tagging, while ensuring compliance with ESG-XBRL requirements.