Thursday 22 December 2016

Europe: EMSA adopts Inline XBRL as format for annual financial reporting

Article 4(7) of the Transparency Directive 2004/109/EC, as amended by Directive 2013/50/EU, provides that with effect from 1 January 2020 all annual financial reports of issuers listed on regulated markets should be prepared in a single electronic format, providing that a cost-benefit analysis has been undertaken by the European Securities and Markets Authority. The Article also requires ESMA to develop draft regulatory technical standards to specify the electronic reporting format. ESMA announced yesterday that it had chosen Inline XBRL as the required format: see here.

No comments: