Aggregated News From Investment Management Regulators

ESMA integrates the 2020 IFRS taxonomy into ESEF RTS


Please complete the required fields.

The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today publishes a draft amendment to the Regulatory Technical Standards (RTS) on the European Single Electronic Format (ESEF).

This update provides a purely technical amendment to the original RTS on the ESEF, incorporating the 2020 version of the IFRS taxonomy published by the IFRS Foundation in March 2020.

The 2020 taxonomy will be mandatory for annual financial reports containing financial statements for financial years beginning on or after 1 January 2021. However, issuers will be allowed to adopt it already for 2020 reports on a voluntary basis.

The ESEF taxonomy is based on the IFRS Taxonomy. Therefore, as IFRS Standards and taxonomy evolve, the ESEF RTS must also evolve to provide preparers with the most relevant ESEF taxonomy for tagging IFRS consolidated financial statements.  This will promote electronic reporting that is up to date with the applicable reporting standards, facilitating implementation of the tagging requirements and ensuring the highest comparability of filings for end-users at European and global level.

Next steps

The draft RTS has been submitted to the European Commission for approval and will continue to be amended on a yearly basis to reflect updates to the IFRS Taxonomy published by the IFRS Foundation.

Regulator Information

Abbreviation: ESMA
Jurisdiction: ESMA

Recent Articles

Retail investors have grown in number, are younger and increasingly use neo-brokers since the Covid crisis

After an initial analysis of the behaviour of retail investors on the stock market conducted in April 2020 during the first lockdown, the Autorité des Marchés Financiers has confirmed the renewed in

The AMF announces two appointments to the Regulatory Policy and International Affairs Directorate (DRAI)

Kheira Benhami has been appointed Chief Economist and Director of the Analysis, Financial Stability and Risks Division at the DRAI as of 2 November, while Ianja Ramananarivo was appointed Head of th

Aclassbank / Bellerophon Group Ltd

Attention! The FMA warns investors against concluding transactions with: Aclassbank / Bellerophon Group Ltd with its registered address apparently in Mauritius and St. Vincent and Grenadines Web: E-Mail:...

Get the latest from Regulatory.News in your inbox!