The German financial landscape in 2026: balancing HGB tradition with IFRS & CSRD evolution
For companies operating in Germany, Austria and Switzerland, the financial reporting year of 2026 represents a crossroads between the country’s...
On November 25, 2021, the European Commission disclosed its proposal for establishing the European Single Access Point (ESAP) which is now scheduled to become operational on July, 2026 and publish information from July, 2027. The data submitted by issuers within the European Union will be directly available on the ESAP platform.
This is a significant breakthrough, given such a centralised platform is currently not available on the market and once established will assist investors, analysts and other data users in their investment decision-making process and capital allocation. ESAP aims to centralise and simplify access to financial, capital market, and sustainability information for EU-listed companies without imposing new reporting requirements. Instead, it consolidates existing digital data that has already been submitted to OAMs (Officially Appointed Mechanism), including elements of the NFRD (Non-financial Reporting Directive), strengthening data transparency and data access.
Meanwhile, the European Supervisory Authorities (ESA) which consists of European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and European Securities and Market Authority (ESMA) have initiated a consultation on the draft implementing technical standards (ITSs) which outlines the responsibilities of collection bodies and the functionalities of ESAP. This will give the respondents an opportunity to share their views on the draft ITSs.
Stakeholders are currently encouraged to submit their feedback by March 8, 2024. Find below link to the Response Form:
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