European Securities and Markets Authority (ESMA) is an independent EU Authority that contributes to safeguarding the stability of the European Union’s financial system by enhancing the protection of investors and promoting stable and orderly financial markets. It achieves this by: assessing risks to investors, markets and financial stability, completing a single rule book for EU financial markets, promoting supervisory convergence and directly supervising credit rating agencies and trade repositories.

ESMA has recently mandated European Single Electronic Format (ESEF). The ESEF is the electronic reporting format in which issuers on EU regulated markets shall prepare their annual financial reports in XHMTL format, which is human readable and can be opened with any standard web browsers from 1 January 2020. Where AFRs contains IFRS consolidated financial statements, these shall be labelled the XBRL ‘tags’, which make the labelled disclosures structured and machine-readable.

For better understanding, please refer the below mentioned various aspects related to XBRL and ESEF Reporting:

What is XBRL?

All you need to know about – i.e. XBRL, iXBRL, ESEF, Taxonomy, Tags, Instance Document, Validation etc…

Why XBRL is required?

ESEF offers many benefits viz. Improved reporting, Automated data collection, Reliability & accuracy, Cost effective, Time saving, Better decision making…

Who need to file in XBRL?

All the Companies listed on a regulated UK or European exchange shall prepare their annual financial reports in XHMTL format...

What is required to be filed?

ESEF is the electronic reporting format in which Full set of Annual Financial Report is required to be filed in XHTML format based on type of company…

When you need to file?

All the Companies listed on a regulated UK or European exchange are required to file after the end of its financial year…

How to prepare and/or file?

Preparing financial statements in ESEF mode: The process for creation and filing of Financial Statements in ESEF mode is as under…

What if there is delay or non-filing?

In case the Company makes delay in filing or fails to file the financial statements, late fees and penalty is applicable…

How we can serve?

XBRL Experts offers full service for all of your XBRL and ESEF filing needs. We provide compliance with the most current requirements…

What is our process?

It is a simple 4 step process to convert your Annual Financial Report to ESEF format for filing with regulatory authority…

Why XBRL Experts?

Experienced Team

We hire only seasoned, professionals with relevant experience. Our team members are periodically trained on various aspects related to XBRL, Accounting and Secretarial matters. Each reviewer of XBRL report is having professional degree and experienced in preparing minimum 200 XBRL reports.

Accuracy of Reports

Our service process has in-built preparer-checker mechanism and random audits to ensure that the final XBRL reports are accurate and meets the requirements of the Statute and customer’s expectations. Our processes are certified for ISO Quality Standards.

Customer Satisfaction

Our vision is to ensure our customers are satisfied with our services and will not be reluctant to use our services again or refer us to their network. Further to be noted that client needs to pay us only after completion of service.

Data Security

We strictly adhere to regulations related to secure handling of client data. All data are hosted in a secure server. We audit our process periodically for data security and are certified with ISO.

Quick Turnaround

Sometimes customers need the XBRL report within a very short time or sometimes it could be few weeks. Our service delivery model is flexible enough to meet these requirements in a Cost effective manner.

Cost Effective

Our main focus is to provide Cost Effective services without downgrading tagging quality. Further there are no hidden charges – charges are not dependent on file size.

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