The European Securities and Markets Authority (ESMA) is specifying the electronic format in which annual financial reports from 2020 will have to be prepared. In order to assess whether the draft rules are practicable and to determine to which extent they have to be improved, ESMA is organising field tests with interested stakeholders.
The field tests will consist of transforming annual financial reports by issuers to Inline XBRL instance documents, according to ESMA’s draft ESEF specifications. ESMA is seeking participation from issuers on European regulated markets from all industries preparing IFRS consolidated financial statements and software vendors.
Timeline and contact details: Applications are welcome by Friday 14 July. Several workshops will be held from the end of July until the end of August. ESMA will provide interested issuers with a list of possible dates. Issuers and software vendors interested in participating in the field tests are invited to contact email@example.com.
A number of Open Source developments may be useful for the ESMA call. In addition to Arelle Open Source XBRL Platform, the development Really Easy Converter between Excel and XBRL (RECEX) is also available since 2011, while other volunteer solutions are more than welcomed. Simply send a message to firstname.lastname@example.org to start the contact.