In 2013, the European Securities and Markets Authority (ESMA) was asked to specify a European Single Electronic Format (ESEF) for annual financial reports (AFRs). This initiative was part of a broader move to improve access to the information produced by listed companies.

The draft regulatory technical standard—the specifications and rules of the mandate—for the ESEF was published in December 2017 and is working its way through the European approval process. The standards set out the requirement for AFRs produced by ESMA-regulated companies to be published in XHTML format. In addition, IFRS consolidated financial statements will need to be tagged using the Inline XBRL® format.

Log into Wdesk University and then click here to enroll in ESEF iXBRL Requirements on Wdesk University to learn more about the interactive data requirements under ESEF.