ESEF: European Single Electronic Format

ESEF is a standard format for electronic reporting of financial statements that was introduced by the European Securities and Markets Authority (ESMA), as part of the European Transparency Directive.

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What is ESEF and how CtrlPrint helps you to stay compliant 

ESEF applies to all companies listed on EU regulated markets. Companies that publish their annual reports under consolidated IFRS need to report in iXBRL format, while companies that report with non-IFRS consolidated financial statements report in XHTML format.

The ESEF Taxonomy is produced by the European Securities and Markets Authority (ESMA) and is based on the International Financial Reporting Standards (IFRS) Taxonomy.

With the CtrlPrint integrated XBRL tagger, you can tag, review, and validate your report using all current taxonomies. Comply with regulations demanding electronic reporting formats without limiting the design of your annual report or sustainability report.

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The purpose of ESEF

ESEF aims to enhance transparency, accessibility, and comparability of financial information in the EU by requiring companies to submit their financial statements in a structured format that can be easily read and analysed by both humans and machines.

 
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ESEF and block tagging

For financial years beginning on or after 1 January 2022, issuers must “block tag” the notes to their financial statement, which was a major addition to ESEF requirements.

In a block tag, the content of an entire section of a report is tagged as a single fact. The tag may include text, numerical values, tables, and other data. The phrase “block tag” refers to the fact that the whole disclosure is tagged as a single block — no numbers or tables within the note are individually tagged.

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