European Single Electronic Format

As of January 1, 2020, all IFRS consolidated financial statements must be prepared in a uniform electronic format, the so-called ESEF (European Single Electronic Format). This is intended to increase the public comparability of companies. The EU had already laid the groundwork for the introduction of this uniform reporting standard for the annual financial statements of European companies in 2013. In 2017, ESMA (European Securities and Markets Authority), the body responsible for auditing and drafting the EU regulation and the associated requirements, published a final draft regulation. This draft regulation of the Regulatory Technical Standards (RTS) provides a digital format (XHTML) for financial reporting and will become effective in all EU member states immediately after endorsement and publication in the Official Journal of the European Commission.

Who is affected by the introduction of the uniform reporting standard?

The planned regulation requires that all capital market-oriented companies whose securities are traded on European markets must publish an electronically readable annual financial statement from 1 January 2020. In addition to a clear increase in efficiency on capital markets, this also means a visible improvement for regulators and financial service providers, but also for investors. The PDF used by many companies will then no longer be sufficient.

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A guide to European Single Electronic Format

Everything you need to know about ESEF!

4C GROUP AG | A Guide to ESEF / European Single Electronic Format
  • FAQs - who is affected, what is to be done, when must one react?
  • Effects of ESEF regulation on processes and systems
  • Overview of the system providers on the market
  • Recommendations and solutions of the 4C GROUP
  • Demonstration tagging and XBRL generation using an exemplary solution
Download (PDF - 22 pages, 2,4 MB)

Events on the subject of Group Reporting & Accounting

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Watch the ESEF Webcast: 

Didn't have the opportunity to attend our last live ESEF webinar? We are pleased to offer you the option to watch our webcast as a video.

An event of the competence network Group Accounting

The competence network has set itself the goal of anticipating best practice approaches to new and well-known challenges in Group Accounting. With our working group, we have also created a platform where the experts in Group Accounting can communicate at a high level and discuss the challenges in their respective companies. The Group Accounting working group has now become firmly established and takes place annually.

Our experts for ESEF

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Markus Noçon
Peter Keefer