FRC publish UK version of ESEF Taxonomy
Will the UK forge ahead with the European Single Electronic Format (ESEF) in January 2021, as originally planned? Or will the current consultation result in a delay, giving the country time to get its post-Brexit house in order? While the UK’s ESEF timeline is yet to be decided, the Financial Reporting Council (FRC) is prepared for either eventuality with the recent publication of UKSEF, a UK version of the ESEF taxonomy.
The FRC has published UKSEF amongst the 2021 suite of taxonomies, which also includes updates to all of the FRC’s existing taxonomies. Other updates include Covid-19 related changes, such as enabling revised accounts and creating additional income-related tags to cover Covid-19 disruption.
Read more and access the taxonomies here.