The European Securities and Markets Authority (ESMA) has been mandated by the Transparency Directive 2013/50/EU of the European Commission to ensure that all financial reports be prepared in a single electronic reporting format from 1 January 2020.
ESMA has developed draft Regulatory Technical Standards (RTS) to specify the electronic format known as European Single Electronic Format (ESEF).
ESEF makes use of XBRL and the Inline XBRL format to enable the presentation of the machine- and human-readable annual financial reports. ESMA has proposed the use of XBRL under the International Financial Reporting Standards (IFRS).
Ez-XBRL provides cloud-based disclosure management and collaboration platforms to enable all regulated entities to comply with these standards as mandated.
Cloud-based Inline XBRL Platform - Integix
Integix is Ez-XBRL’s cloud-based iXBRL authoring platform. It offers a comprehensive solution that enables the conversion and creation of iXBRL documents using a variety of source document formats including Microsoft Word, Microsoft Excel, and Adobe Acrobat (PDF).
Integix provides a full-featured disclosure management solution that enables corporations in creating ESMA-compliant Inline XBRL documents. With its powerful set of features and functionality, Integix is the ideal choice for filers looking for a solution that meets all the compliance needs for ESMA/ESEF requirements.
Managed Inline XBRL Services
ESMA filers are required to submit Inline XBRL compliant annual financial reports and tax computations starting January 1, 2020. Ez-XBRL’s services team has significant credentials in providing fully managed XBRL/iXBRL conversion services.
- Providing expert outsourced conversion services to meet ESMA’s requirements
- Deep knowledge of the IFRS accounting standard
- Extensive technical expertise in XBRL/iXBRL standards
- Well-defined process and workflow management for preparing valid and accurate XBRL/iXBRL documents
- 6+ years of Inline XBRL experience helping some of the world’s largest corporations file annual, semi-annual, and quarterly disclosures, position us as your ideal partner for iXBRL compliance.
XOR - Online Portal for Collaboration and Reviewing
All our services customers are provided access – at no additional charge – to XOR, our acclaimed online reviewing portal for XBRL and iXBRL documents.
Our services for companies required to file Inline XBRL documents with ESMA compliance include:
- Converting your documents to iXBRL 1.1 compliant documents
- Identifying and selecting the most appropriate XBRL concepts (tags) that meet your requirement, whether by applying the minimum tagging set or the full set of tags available with the published taxonomies
- Finalizing and validating the output to meet the ESMA’s validation criteria
XOR - The Defacto standard in XBRL Review and Validation Tools
XOR is the defacto standard for cloud-based XBRL reviewing tools. Combining a powerful set of features, with an elegant and intuitive user interface, XOR’s collaborative reviewing, reporting, validation, and workflow features have been used to review and finalize 1000s of XBRL filings since its introduction in 2013.
With the addition of Inline XBRL capabilities and support for the latest validation rules applicable to ESMA filers, XOR offers a compelling set of features that make it an invaluable tool for companies seeking to file high-quality, valid, and standards-compliant iXBRL documents.
What are ESMA’s Technical Requirements?
Learn more about the technical requirements. Contact us for more details.