ESEF and iXBRL: The journey from compliance to communication
A revolution in corporate reporting is coming. New legislation introducing the European Single Electronic Format (ESEF) will require companies to publish their annual reports in XHTML, with iXBRL tagging of the primary financial statements.
Pending the UK’s implementation into law, this will apply for financial years beginning on or after 1 January 2020, so reports for December 2020 year ends and onwards will be affected.
In this guide, we break down exactly what XHTML and iXBRL are and what the requirement is asking, plus what companies should be doing now to prepare and some solutions to implementing the change.