ESEF XBRL Reporting: Let’s Talk About Filing & Beyond

April 8, 2022by Team IRIS CARBON

Companies in many EU countries are filing ESEF XBRL reports for the first time. So, it is obvious that most of the companies’ finance and accounting teams would be busy with iXBRL creation and filing, as well as quarterly closing. However, companies would do well to bear in mind a few housekeeping issues that come after ESEF XBRL reports are filed. We list them out below.

Does Your Company’s Website Reflect The iXBRL Package & Viewer Link?

With the ESEF XBRL mandate being introduced, annual reports are no longer accepted in PDF format. Companies need to plan on publishing the digital ESEF XBRL package, along with an iXBRL Viewer, on their websites. A viewer is necessary because it displays the annual report in its stylized form along with the iXBRL tags. Hosting the iXBRL .ZIP package along with an iXBRL Viewer will make your company’s AFR stand out as your data will be available for Investor Relations purposes.

The image below shows the iXBRL .ZIP package and iXBRl Viewer link hosted on the Company’s website.


Does Your Annual Report 2022 Project The Provision for “Block Tagging”?

Phase II of ESEF or “block tagging” of the notes to accounts will be applicable to Annual Report 2022. Companies need to focus on the stylization of their annual reports and frame quarterly reports accordingly for appropriate coverage and scope for disclosure. An example showcasing block tagging for the notes to accounts as seen in an iXBRL Viewer is given below.

inline xbrl viewer

Have You Looked At ESEF Taxonomy 2021?

The European Parliament has given a green signal for the 2021 Taxonomy, which is mandatory for Annual Reports 2022. This means annual reports for 2022 will be accepted by the regulator portal or Officially Appointed Mechanism (OAM) only if they are tagged using the 2022 taxonomy package. Accordingly, every company must ensure that its iXBRL documents are prepared in accordance with ESEF rules to avoid last-minute hassles.

Is Your Quarterly Report Taking Care Of The Numbers?

Though the ESEF XBRL mandate is applicable to annual reports only, it is important for companies to ensure that all financial documentation is intended to facilitate effective ESEF compliance. For instance, a company can end up making multiple drafts of financials when the numbers do not match in multiple statements such as Profit & Loss, Reserves, Equity, and Cash and Case Equivalents. With these numbers being reflected in the notes to accounts and being block tagged from 2023, ESEF XBRL issuers need to be doubly cautious about getting them right.


Phase II of the ESEF XBRL mandate is aimed at increasing the scope of digital reporting and placing a larger pool of data before the public eye for greater transparency. Accuracy and transparency go hand in hand. The more accurate your company’s data, the more transparent are your financial reports. A ‘filing and beyond’ approach will help ESEF issuers serve the regulator, investors, and other stakeholders better.

To File High-quality ESEF XBRL Reports to Your Regulator with a ‘Filing & Beyond’ Approach