Insights on ESEF block tagging

Posted on October 7, 2022 by Editor

As new block tagging requirements get closer for next year’s European Single Electronic Format (ESEF) reporting cycle, a post from Toppan Merrill offers concise compliance insights and best practices. Block tagging, it explains, uses XBRL tags to mark up blocks of content, normally text, without individually marking up any numerical information within those blocks. As the latest guidance confirms, filers will be expected to apply all relevant text block tags, at a higher degree of granularity than in other jurisdictions such as the US, “for example represented by tagging larger and smaller pieces of information rather than one note or one accounting policy. Therefore, we also expect a higher degree of overlapping and non-contiguous text block tags, adding complexity to the requirements.”

The post clarifies the effective date and scope of these new requirements – which apply for financial years starting on or after 1 January 2022 – and urges European issuers to start working on them as soon as possible, particularly given greater potential subjectivity in text block tagging. Early attention along these lines seems to us helpful advice.

Read more here.

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