ESEF RTS updated for 2020 Taxonomy
The European Securities and Markets Authority (ESMA) has published a draft update to the ESEF Regulatory Technical Standards (RTS) to reflect the changes that have been made to the 2020 IFRS taxonomy.
The ESEF taxonomy is based on the IFRS taxonomy, and must therefore be updated regularly to reflect changes in the IFRS Standards. This will ensure that reporting is up to date with the most relevant reporting standards, and that filings remain comparable at a European and global level.
Use of the 2020 IFRS taxonomy will be mandatory for annual financial reports covering financial years from 1 January 2021. However, issuers can adopt it in advance voluntarily.
Read more and access the amendment here.