Regulatory Alerts2025-09-11
Final Report on draft RTS amending the taxonomy for the European Single Electronic Reporting (ESEF) - 2025
ESMA issued a Final Report submitting draft Regulatory Technical Standards to the European Commission to update the ESEF taxonomy for the 2025 reporting cycle. The amendments incorporate the 2025 IFRS Accounting Taxonomy, specifically adding tagging elements for the newly issued IFRS 18 and IFRS 19 to facilitate early application and testing by issuers. Additionally, the document updates Inline XBRL specifications to adopt Calculation 1.1, which significantly reduces validation inconsistencies and enhances data quality in electronic financial reports.
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