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Items tagged with "EU"

Official news on ESEF delays, as early filings begin

While updates have been trickling in in recent weeks, there’s now official news on the European Single Electronic Format (ESEF) mandate. The European Commission (EC) has published a list of countries that have opted for a one-year ESEF postponement due to Covid-19, pushing its start to January 2022.

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Congratulations Ukraine! Starting gun fired on iXBRL reporting

Ukraine is gearing up for XBRL-based financial reporting for the first time in 2021. With a new, tailored taxonomy and data collection system in place, the country is looking forward to improved reporting and structured financial data in a single electronic format that will be comparable and compatible with EU and international standards.

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EBA kicks off 2021 EU-wide stress test exercise

How would Europe’s banks fare under seriously adverse conditions – for example if the Covid-19 pandemic is prolonged? We’re set to find out; on 29 January the European Banking Authority (EBA) launched the 2021 EU-wide stress test, and released the macroeconomic scenarios for the test.

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ESEF Mandate mixed Progress and Postponements

This year was set to see the final preparations for the ESEF mandate to launch across all EU member states, and the early months of 2020 started bright with ESMA publishing the ESEF conformance suit, an active market of low-cost ESEF tools developing, and GLEIF giving us a glimpse into the future of digital trust with a sample ESEF report which […]

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EBA issues revised validation rules

The European Banking Authority (EBA) has issued a revised list of validation rules in its Implementing Technical Standards (ITS) on supervisory reporting. Previously published rules which have been deactivated due to error or IT problems have been highlighted.

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ESMA supports International Sustainability Standards (and XBRL)

This week the European Securities and Markets Authority (ESMA) published a supportive response to the IFRS Foundation’s consultation on establishing a new Sustainability Standards Board (SSB).

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ESMA publishes 2020 ESEF XBRL Taxonomy

The European Securities and Markets Authority (ESMA) this week published the 2020 ESEF XBRL taxonomy files and updated the ESEF Conformance Suite in order to facilitate the implementation of the upcoming ESEF regulation.

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Speech: The Paradoxes Plaguing Sustainability Reporting

The past year has seen growing consensus on the need for non-financial reporting standards in order to mitigate climate-related financial risks and help investors divert capital towards more sustainable ends. However, sustainability reporting is a complicated task, and a number of difficult questions need to be answered before effective standards can be established.

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ESMA’s new Powers put to use on Data Quality.

Revised regulation recently gave the European Securities and Markets Authority (ESMA) some new so-called “convergence” powers to identify and co-ordinate supervisory priorities in response to key risks across the Union.

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EFRAG updates on Non-Financial Standards

Regular readers of this newsletter may remember that recently the European Commission (EC) tasked EFRAG with exploring possible EU non-financial reporting standards that could form part of a revised Non-Financial Reporting Directive (NFRD).

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