Regulatory Alerts2024-07-11
Final Report on draft RTS amending the taxonomy for the European Single Electronic Reporting (ESEF) - 2024
The European Securities and Markets Authority (ESMA) issued a Final Report proposing technical amendments to the European Single Electronic Format (ESEF) regulatory technical standards to align the ESEF taxonomy with the 2023 and 2024 IFRS Accounting Taxonomy updates. The draft regulation replaces specific annexes to incorporate new accounting elements, deprecated items, and updated Inline XBRL specifications, while explicitly excluding public consultation as the changes are purely technical. The amended standards are mandatorily applicable for financial years beginning on or after 1 January 2025, with early application permitted for periods starting on or after 1 January 2024.
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