Peter Van Craenenbroeck’s Post

Since the European Single Electronic Format (ESEF) regulation was introduced, companies in the EU have been filing highly accessible and comparable annual reports in Inline XBRL. The new, digital format has improved the quality of financial reporting in the EU region. However, errors continue to creep into ESEF reports. 🔍 IRIS CARBON® analyzed the 2021 annual reports of 1,760 companies from 22 European countries and 27 industries. The findings provide valuable insights into the state of ESEF reporting quality. 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: Country-wise Summary of ESEF Reporting Quality Industry-wise Summary of ESEF Reporting Quality Common ESEF Errors and Warnings Insights on Extension Elements Lessons for Companies from the 2021 ESEF Filings Analysis For a more in-depth understanding, check out the full report here https://lnkd.in/gSZMyWhy. 💡 If you're preparing your ESEF reports for 2023, these insights can help you improve the quality of your filings and ensure compliance. Swipe through the carousel below for quick insights below #ESEF #FinancialReporting #QualityAnalysis #XBRL #ESEFMandate 

European Single Electronic Format #ESEF | ESMA updated its Reporting Manual on ESEF supporting a harmonised approach for the preparation of annual financial reports. ESMA has also updated the Annex II of the Regulatory Technical Standards on ESEF → https://lnkd.in/gxGcA5us. 👤 issuers are expected to follow this guidance for their 2024 annual financial reports ✅ recommendations when tagging empty fields or dash symbols ✅ clarifying that extension elements should be anchored to core elements sharing the same data type ✅ advising on practices to further improve the readability of the information extracted from a block tag ✅ encouraging the use of unique identifiers for each tagged fact

Advisory: Auto-populate the HSN-wise summary from e-Invoices into Table 12 of GSTR-1 https://lnkd.in/g4M6mHns

🌟 Exciting Announcement! 🌟 Navigating the complexities of ESEF reporting just got a whole lot easier with our latest article on overcoming challenges and implementing solutions in compliance with the European Single Electronic Format regulation. From technical complexities to resource constraints, we explore key hurdles faced by organizations and offer practical strategies to ensure a seamless transition to digital financial reporting. At Mazilu and Partners, we understand the importance of staying ahead of regulatory changes and supporting companies in meeting compliance requirements effectively. Our team of experts is equipped to provide tailored solutions for ESEF reporting, including iXBRL tagging and validation, data quality assurance, cross-border compliance strategies, and stakeholder communication support. Check out the full article for valuable insights and actionable tips: https://lnkd.in/eZz-upBS Ready to enhance your ESEF reporting process and elevate the transparency of your financial disclosures? Connect with Mazilu and Partners to unlock strategic solutions tailored to your business needs. #ESEFReporting #FinancialCompliance #MaziluAndPartners #StrategicSolutions #DigitalTransformation

For UK businesses, 2024 brings some new challenges around Financial Reporting Requirements. UKSEF is based on the ESEF taxonomy but has additional UK-specific tagging information that is legally required by Companies House. The UKSEF taxonomy, which is maintained by the Financial Reporting Council in the UK, has undergone some significant changes in the past three iterations but is now mature and ready to be used by a wider audience. Read our guide on the special case in the UK and what to tackle next.... https://lnkd.in/eU35H9GN #UKSEF #iXBRL #financialreporting

SEBI: RELEASES GUIDELINES FOR RETURNING AND RESUBMISSION OF DRAFT OFFER DOCUMENT SEBI, in order to ensure completeness of the offer document for investors and provide greater clarity & consistency in the disclosures and for timely processing, issues guidelines for returning of Draft Offer Document and its resubmission; SEBI specifies that the Draft Offer Document shall be scrutinized, and shall be returned to the Issuer and the Lead Manager for resubmission if they do not satisfy the broad guidelines; The guidelines inter alia mandate the Draft Offer Document to - (i) be drafted in simple language with visual representation of data, so as to ensure ease of understanding of its contents, (ii) present information in a clear, concise, and intelligible manner, (iii) avoid complex presentations, as also (iv) appropriately word the risk factors, to bring out clearly the risk to the investor, without undermining the same; W.r.t. Resubmission of the Draft Offer Document, SEBI apprises that there shall be no refund of the filing fees on account of non-submission of the document by the issuer after return and he shall make written intimation to its sectoral regulator, informing about the return and resubmission of the document; SEBI further elaborates that the Issuer and the Lead Manager shall ensure that the Draft Offer Document is resubmitted only after addressing the appropriate insufficiencies and is in compliance with provisions of ICDR Regulations and other applicable laws, moreover, the Issuer shall make a public announcement as prescribed under ICDR Regulations, and shall also include a disclosure that it is a resubmitted document, within 2 days of resubmission: SEBI

In this series from Forvis Mazars, get helpful insight on navigating the Record to Report process: https://bit.ly/3XDJQ3s

The Impact of ESEF Reporting on Financial Transparency 🌐 The European Single Electronic format (ESEF) is a EU initiative mandated by the European Securities and Markets Authority (ESMA) to improve financial transparency and comparability. Harnessing iXBRL technology, ESEF embeds data tags within HTML documents, making financial statements both human and machine-readable. 💡 While the transition to ESEF has had its challenges, especially for companies new to digital financial reporting, the long-term benefits are significant. The initial software costs are offset by greater data accuracy and fewer reporting errors. The efficiency of the financial reporting process will improve as companies fully adapt to the ESEF requirements. 📈 The ESEF represents a significant step forward in the digitalization of the financial sector, fostering greater accountability and trust in financial markets. Despite the initial hurdles, the long-term benefits for firms are significant, mitigating costly mistakes. 🛠️ At eSourcing, we support our clients in the preparation of XBRL reports for both the FSA and the NBP.

The Funding Explorer is a set of seven interactive dashboards reflecting active international financial inclusion funding commitments as of December 31, 2022. The Explorer uses data from the CGAP Funder Survey complemented by publicly available contextual indicators.   #latinamerica

NEE recently added two new reports that should help streamline your evaluation and professional growth efforts. The reports can be accessed by clicking “Status Reports” on the left-side menu. To learn more visit: https://lnkd.in/gZzPzYMH #NEEDataTool #Reports #Evaluation #EdTech #TeacherEvaluation