ESEF Plug & Play
What do the new ESMA guidelines mean for my company?
As of 2020, the European Securities Markets and Authority (ESMA) requires all issuers on EU regulated markets to prepare annual reports in the Inline XBRL (iXBRL) format. Inline XBRL is an XBRL embedded in HTML, which means HTML annual reports are also mandatory. These ESEF reportings can be viewed with any web browser.
Listed companies are required to enhance their annual reports with machine-readable information within the XBRL standard. Our user-friendly solution involves applying these complex technical standards using our XBRL Tagger and our SmartNotes Disclosure Management Solution. Additionally, the automatic tagging of "accounts" from the IFRS standard, importing, updating figures from source systems and numerous validations enable you to fully meet the wide-ranging ESEF requirements and save precious time.
ESEF reporting requirements
- All listed companies must report in XHTML format for the fiscal year 2020.
- IFRS financial statements must be reported with the IFRS taxonomy in iXBRL format.
- From 2020 on, the "main financial statements" must be tagged.
- From 2022 on, the notes must contain a "text block" tag.
- The “entity specific disclosures” must be reported through a taxonomy extension.
- Anchoring: taxonomy extensions are allowed if no IFRS item is available in the ESEF taxonomy. The "company's own tag" must be anchored in the IFRS taxonomy.
XBRL tagger – ESEF Plug & Play without implementation project
With our easy-to-use XBRL certified software, you can create ESEF-compliant reporting in no time. Even without an implementation project and IT knowledge, you can immediately begin tagging your annual reports. The stand-alone XBRL tagger can recognize any data format and process all taxonomies. You can easily map IFRS taxonomy items to the corresponding financial statement numbers.
Convert any MS Word, PDF, HTML, or InDesign document to support the fast and easy operation of the stand-alone XBRL tagger. Once the mapping is done, all tags can be rolled forward to the new ESEF report in the following year.
For financial years begin after 1 January 2022, ESEF text block tagging will become mandatory. This means that the full notes to the financial statements have to be tagged with text block tagging for the first time. Our XBRL tagger can implement convenient text block tagging in Word as well as in PDF.
Alternatively, the XBRL tagger is available as an integrated process solution within our disclosure management software SmartNotes. In addition to XBRL tagging, SmartNotes supports the complete end-to-end process from data imported from the consolidation system to the ready-to-print layout. Further information can be found here.
- PDF / Word / InDesign tagging
- Plug & Play
- All taxonomies and languages
- Auto-tagging and mapping by smart AI
- Corporate design compatible export
Disclosure Management SmartNotes:
End-to-end process to the ESEF and ESG annual report
Our Disclosure Management increases the efficiency in the preparation of annual reports and iXBRL reports and helps you to implement a valid ESEF and ESG reporting. Through the integration of the XBRL tagger, SmartNotes is available as a "built-in" version. In addition to XBRL tagging, SmartNotes supports the complete end-to-end process from data imported from the consolidation system, to the ready-to-print layout.
At the same time, our ESEF reporting software offers a variety of additional functions to support the professional work of your employees and to eliminate non-value-adding activities. For example, changes to a data import lead to an update of affected contents, in the tables, in the continuous text and in all language variants of your annual reports. In addition, our Disclosure Management can conveniently implement the latest text block tagging requirements.
With our built-in role concept and full audit trail, we offer you revision security and also respond to your individual requirements. In addition, imported values, rounding adjustments, created taggings and texts are retained for the next report. In addition to ESEF, you can choose from a variety of other output formats, such as print-ready Word, PDF, Excel, InDesign, XBRL or iXBRL.
AMANA software for your ESEF annual report
Regardless of which document format you have and whether it has a "built-in" or stand-alone "bolt-on" version: our integrated XBRL certified software guarantees a valid ESEF annual report in the iXBRL format.
The stand-alone XBRL tagger can recognize any data format and process all taxonomies; no implementation project or installation is necessary. Additionally, the XBRL tagger is integrated in our Disclosure Management SmartNotes. In addition to tagging, SmartNotes provides a complete end-to-end process from the first data imported from the consolidation system to the ready-to-print layout for publication.
|Number of concurrent users working on one report||1||∞|
|Certified (i)XBRL processor||x||x|
|Microsoft Word tagging||x||x|
|PDF | HTML | InDesign tagging||x|
|Text block tagging||x||x|
|AI supported auto tagger||x||x|
|XBRL tagging roll-forward||x||x|
|Disclosure Management Functionalities|
|Support for multilingual reports including number formatting||x||x|
|Integrated disclosure checklist||x||x|
|Content management based on Microsoft Office||x|
|Report roll-forward (numbers, manual adjustments, notes & comments)||x|
|Different types of output documents (e.g. Word, Excel, PowerPoint, HTML, iXBRL, XBRL, InDesign, etc.)||x|
|Linking & automatic update of values from data sources ( e.g. SAP, HFM, LucaNet, etc.)||x|
|Individual workflow system||x|
|„Layout Robot“ for the automated production of glossy and ready-to-print reports||x|
|Detailed authorisation system and full audit trail||x|
Compare XBRL tagger and SmartNotes – find the right solution for your company.
Check and validate ESEF and iXBRL reports with the AMANA XBRL Auditor
The new ESEF regulation mandates listed companies to publish their annual financial reports in iXBRL digital format. In many EU countries, the ESEF reports also have to be audited or reviewed.
The main challenge of auditing iXBRL reports is the technical validation, checking of tags selected by the report creator and the comparison of the traditional format (PDF) with the new iXBRL format. Auditing iXBRL reports requires new knowledge for auditors and can only be done with a proper certified XBRL software.
The AMANA XBRL Auditor was developed on the basis of our many years of experience from hundreds of XBRL projects with a clear focus on the review and audit of iXBRL reports according to the ESEF regulation.
The AMANA XBRL Auditor supports you by:
✓ Automizing the technical validation in accordance with the ESMA Validation rules
✓ Checks for integrity of the machine readable and human readable document
✓ Supports the documentation with checklists
✓ Version control, by comparing and tracking changes from one version to the other
✓ Client communication with comments
✓ Four eyes and review function
The generic approach allows the auditor to load any iXBRL report, no matter which tool was used to create the report. Immediately, the machine-readable dataset is validated and displayed and can be compared to the "human-readable" XHTML. The compliance check of the report as described by the ESEF Reporting Manual as well as the regulation itself can be performed and confirmed with a single click without any technical or XBRL knowledge.
This allows auditors to focus on what’s important: The checking of the actual XBRL tags and line items, anchoring and calculation link base, which requires traditional IFRS knowledge. The tagging of the main financial statements can be checked or commented on a line-by-line basis from one version to the other.
The integrated checklist allows the complete audit to be performed, commented and documented (using file attachments) by multiple users at the same time.
An automatic and intelligent change detection for new versions of the report ESEF report as well as an XHTML and iXBRL comparison allows to quickly compare changed reports of clients without having to repeat already checked items.
A comprehensive Excel report with all validation results, the taxonomy, the machine-readable data set in multiple views as well as the documented check steps and comments can be extracted.
AMANA XBRL Auditor Functionalities
- Plug & Play on-premise installer for Windows Desktop, no IT or Server required
- API available for automation purposes
- Report Loading
- Open ZIP report packages, including taxonomy extensions
- Open iXBRL/XHTML reports
- Open XBRL files
- Open any taxonomy
- Preload ESEF taxonomy
- Certified validators by XBRL International:
- Core (XBRL 2.1 & Dimensions 1.0)
- Inline XBRL 1.1
- Table Linkbase 1.0
- Extensible Enumerations 1.0 & 2.0
- Formula 1.0
- Unit Registry
- ESEF Reporting Manual and RTS Validations (ESMA Conformance Suite passed)
- Custom validation rules and check list items
- Versioning of ESEF report version sent by clients
- XBRL comparer to show differences of tagging between two reports
- Full document XHTML comparer to visualize differences in track-changes mode (similar to MS Word)
- XBRL Data View based on extension taxonomy including Presentation, Calculation & Definition
- XBRL Table View for dimensional table (Statement of Changes in Equity)
- iXBRL Viewer to show tags in the XHTML document
- Validation results displayed on fact level
- Hidden fact viewer
- Reporting entity identity check
- Audit standard (PS410) based checklist with automatic, semi-auto and manual items
- Documentation of audit checks with comments and file attachments for each check list item
- Status-based workflow for each step, including audit trail (who/when)
- 4-eyes principle confirmation by different user
- Tick & tie each and every line item / fact
- Roll-forward of checklist items and audit results, in new report versions only changed facts have to be reviewed
- Automatic change detection and checksum calculation on files
- AI supported tagging peer-group comparison (coming 2021)
- Excel export for XBRL Data View and Table view, including Presentation, Calculation and Definition linkbase
- Excel report with table views for dimensional tables
- Full audit checklist export including comments, timestamps, etc.
- Customizable Auditors opinion export to Word
- Validation result report Excel export mode (similar to MS Word)
- Calculation & Definition each check list item only changed facts have to be reviewed again
- Calculation and Definition linkbase
Disclosure Management SmartNotes: End-to-end process to the ESEF and ESG annual report
Our Disclosure Management SmartNotes increases the efficiency in the creation of annual reports and iXBRL reports and helps you to implement the ESEF and ESG requirements. Work with SmartNotes from the first data import, through the input of corrections, to the publication of the annual report in a print-ready layout without media discontinuity. Our Disclosure Management System relieves you of the manual work steps so that you can concentrate on essential content.
Referents: Björn Bielesch
How to get ready for auditing the upcoming ESEF season
The ESEF regulation mandates listed companies to publish their annual financial reports in iXBRL digital format. In many EU countries, the ESEF reports also have to be audited or reviewed. The main challenge of auditing iXBRL reports is the technical validation, checking of tags selected by the report creator and the comparison of the traditional format (PDF) with the new iXBRL format. Auditing iXBRL reports requires new knowledge for auditors and can only be done with a proper certified XBRL software.
In the webinar we explain how the XBRL Auditor can be used to face this challenge, and which new features have been implemented in the latest version to make the auditing process a lot easier.
The AMANA XBRL Auditor was developed on the basis of our many years of experience from hundreds of XBRL projects with a clear focus on the review and audit of iXBRL reports according to the ESEF regulation. Moreover, our software is already successfully used by numerous audit firms including Big Four firms. In our webinar, we will show you the features and benefits of the XBRL Auditor when auditing ESEF reports, as well as our experiences from the first years of ESEF.
Referent: Paul Beckmann, Holger Hinzberg
ESG reporting with the AMANA XBRL Tagger
The European Commission has adopted the European Sustainability Reporting Standards (ESRS) for use by all companies subject to the Corporate Sustainability Reporting Directive (CSRD). It defines around 178 sector-agnostic disclosure requirements, sector specific disclosure requirements. Those disclosure requirements describe hundreds of single data points and narrative disclosures that must be reported in a human-readable report, as well as in a digital and machine-readable format.
Included are data points on water and energy consumption, greenhouse gas emissions, pollution, biodiversity as well as many social aspects like disclosures on workforce. Policies, targets, and specific action plans will have to be reported in order to see how companies are going to face the challenges of a changing world and climate change.
In our webinar, we are going to summarize the challenges regarding the actual reporting and publication process focusing tagging of sustainability statements with the ESRS XBRL taxonomy.
We will show how our XBRL Tagger will make it possible to easily and simply perform the tagging process and the generation of an iXBRL report.
Referent: Catalina Ibanez
XBRL Table Tagging
In the dynamic world of global finance, eXtensible Business Reporting Language (XBRL) has become an essential tool for the business community. XBRL provides a standardized method for tagging tables in financial statements, enhancing clarity, accessibility, and efficiency. Adhering to the European Single Electronic Format (ESEF) is not just a compliance requirement but a strategic move that promotes automation in financial reporting, minimizes errors, and allows for effective communication across various platforms.
In this webinar, you will learn:
1. How to use our XBRL Tagger to Tag Tables in Financial Statements into XBRL:
o A comprehensive demonstration of how our innovative solution facilitates the tagging of tables in financial statements into XBRL.
o Insight into our intuitive interface, designed for both novice and experienced users.
2. ]The Basic Tools That Make Tagging Tables Easier:
o ]Introduction to the essential tools within our solution that simplify the process of tagging tables in financial statements.
o Practical examples to highlight how these tools can be employed for swift and precise tagging.
Why Attend This Webinar?
Join our experts as they explore the world of XBRL tagging of tables in financial statements and reveal the capabilities of our specialized solutions. This webinar will provide you with the knowledge, tools, and techniques needed to excel in modern financial reporting.
Learn how to leverage XBRL and utilize our advanced technologies to meet ESEF's stringent demands. Register today to embark on a path toward more robust, compliant, and streamlined financial communication.
XBRL Text Block Tagging
In this webinar, we will explore the intricacies of Text block tagging, both for Word document and for PDF documents. What are the advantages and disadvantages of one source file over the other? How do I create content controls? How do I tag XHTML Table tags in PDF documents? These topics and more will be covered in our webinar. At the end of the session, there will also be time for Q&A and for further clarifications.
Referent: Nomsa Chirwa and Sebastiano Mussi
Our client projects
Arkk use AMANA's software to provide an outsourced iXBRL tagging service. The software is easy to use and intuitive for both the user and the reviewer. The team at AMANA have been very responsive with incorporating feedback into the software and have been great to work with. We have received some super feedback on the iXBRL output from a number of our clients, especially around the ease of review.
We have successfully integrated AMANA's XBRL Tagger, a certified XBRL solution, into CtrlPrint to enable our corporate users to make their financial reports ESEF-ready in a fast and effective way. In our tagging sessions in December 2019, 30 listed companies were able, to a very large extent, tag previous year's annual report and create iXBRL reports as a perfect basis for the 2020 report, fulfilling ESMA requirements. Our users, who in general are not familiar with XBRL, were impressed by the easy-to-use functionality of AMANA's XBRL Tagger and the way it played down ESEF/XBRL to something more familiar. We are convinced that it is a perfect addition to our report collaboration tool.