ESEF iXBRL Mandate
The European Single Electronic Format mandate came into force in January 2020. IRIS CARBON® has been helping over 200 companies in the EU with hassle-free and high-quality ESEF reporting.
ESEF iXBRL Mandate
A Closer Look
According to the European Single Electronic Format (ESEF) mandate that came into force in January 2020, companies in EU-regulated markets are required to prepare annual reports in the digital xHTML format. Companies preparing consolidated financial statements using IFRS accounting standards are also required to tag their disclosures using the ESEF XBRL Taxonomy.
In Phase 1 of the ESEF mandate, companies were to tag only their financial statement disclosures in XBRL. From Phase 2, they also need to tag the notes to financial statements. The ESEF mandate also has an audit requirement that each EU-member country is allowed to formulate on its own.
Mandatory implementation of ESEF had to be pushed back by one year because of the adverse effect of the pandemic on EU economies. However, many EU companies decided to voluntarily file their ESEF reports despite an option to postpone compliance. Austria, the Czech Republic, Germany, and Slovenia did not allow their companies a one-year delay.
Smoother Process
ESEF compliance makes for a smoother financial reporting process since iXBRL facilitates greater software adaptability by virtue of being a format that computers understand.
Easier Analysis
An ESEF Inline XBRL report is a human-readable and machine-readable document that helps investors, analysts, and others to analyze data effectively and make informed decisions.
High-quality Data
Data in the ESEF iXBRL format is of high quality because the digital format allows filers to validate the information being reported to ensure there are no errors or inconsistencies.
Sustainability Data
In the near future, EU companies may be required to make sustainability data available in a format that facilitates easier access, analysis, and peer-to-peer comparison.
Compliance with the ESEF mandate involves the tagging of annual report disclosures with the right ESEF Taxonomy elements. Filers may create extension elements for company-specific disclosures with no matching elements in the ESEF Taxonomy. Such extensions or custom tags need to be anchored to an ESEF Taxonomy element with the nearest accounting meaning.
Companies need to consider their ESEF xHTML document as a marketing tool and ensure that it is as visually appealing as a PDF annual report. Once the ESEF document is published with the Officially Appointed Mechanism (OAM), companies may display it on their websites in the form of an iXBRL previewer link.
1 Format for Digital Reporting
4,600+ ESEF Filers in EU and the UK
2 Taxonomy Options in the UK
For ESEF Reporting and Compliance, visit
IRIS CARBON® for ESEF Reporting
IRIS CARBON® provides companies with a hassle-free way to comply with ESEF iXBRL filing requirements. Companies can use our state-of-the-art solution to create high-quality iXBRL reports or outsource report creation to our highly-experienced team of XBRL experts.
Why IRIS CARBON®?
Diverse & Happy Clientele
IRIS CARBON® has been the preferred ESEF compliance software for leading organizations in the EU since 2020. We’ve been serving companies across industry sectors.Comprehensive Experience
Our team of more than 350 XBRL professionals has over 17 years of experience in the XBRL space and has facilitated more than 5 million regulatory filings around the world.Unparalleled Quality
We consistently rank #1 for XBRL quality in independent third-party assessments. This underlines our dedication to delivering only the best compliance experience for our clients.Robust Data Security
IRIS CARBON®’s SOC 2, ISAE 3000 & 3402 certifications underline our dedication to data security and internal systems integrity. Your unpublished financial data is safe with us.
What Our Clients Say
In the midst of our annual group reporting, we have found with IRIS the perfect service provider for ESEF, which is a new requirement for all financial years from 2020 within the European Union. Speed and customer orientation as well as the highest output quality are key indicators for our company – these were perfectly met by the IRIS team.
We had an absolutely great experience using IRIS CARBON® for ESEF compliance. It is a tool with exceptional functionalities that helps with a transparent ESEF reporting process.Their highly professional support team is worthy of special mention. I would give the training sessions organized by IRIS CARBON® a 10/10. Keep up the good work.
A big THANK YOU to the entire IRIS CARBON team for its professionalism, responsiveness, and availability throughout our project. We recommend the IRIS CARBON solution for worry-free XBRL integration.
If you are looking for collaborative software that promises supreme-quality reports within the fastest turnaround time, then IRIS CARBON® is the product I would strongly suggest.
Unparalleled XBRL Expertise at your Service
We take pride in calling ourselves XBRL evangelists because we have contributed to developing the format. Our work in XBRL-based reporting spans 17+ years and we have collaborated with over 30 global regulators, helping some of them develop XBRL taxonomies.
Apart from ESEF reporting in the EU, we facilitate UKSEF and HMRC iXBRL filings in the UK, iXBRL filings with the US SEC, XBRL filings with the US energy regulator FERC, and iXBRL filings with South Africa’s CIPC.
- Outsourcing & In-house Compliance
- Unlimited XBRL Expert Support
- Scalable Solution for Newer Filing Needs
- Relentless Innovation for High-quality Filings
Download ESEF Reporting and Compliance Brochure
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Our Stellar Success
Our Stellar Success
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