Choosing the right solution for your ESMA ESEF iXBRL Reporting

The European Single Electronic Format (ESEF) mandate requires that all Annual Financial Reports (AFRs) for financial years that start on or after January 1, 2020 be prepared in inline XBRL (“iXBRL”) format. Even though we won’t see the first AFRs filed in iXBRL until 2021, now is the time to prepare for the transition from PDF format to iXBRL format. esma esef ixbrl

Compliance teams should determine how the mandate will affect them, and examine their current reporting processes to understand what adjustments may need to be made. Most importantly, because iXBRL format is more complex than PDF format, companies should seek out and establish a relationship with a trusted software partner.