Certent reduces the risk, costs, and the troubling data inaccuracies that often plague manual reporting processes. Our highly experienced services team and global network of business partners have the expertise you need to be compliant including deep experience implementing XBRL and Inline XBRL requirements.
With Certent, your company can transform financial report production to ensure data accuracy—making the processes more efficient and effective. That’s why more than 2,400 companies globally rely on Certent.
Certent is your go-to partner for ESMA ESEF reporting requirements.
What is the ESEF mandate?
From 1st January 2020, companies listed on a regulated exchange in the European Economic Area (EEA) must adopt a new framework for formatting and filing annual financial reports (AFRs) relating to financial years that start on or after that date.
The European Single Electronic Format (ESEF) requires annual reports to be produced in a web-native XHTML format, rather than a downloadable document like a PDF. Companies that file annual reports using International Financial Reporting Standards (IFRS) are also required to tag consolidated financial statements with eXtensible Business Reporting Language (XBRL); a machine-readable format that makes financial statements easy to compare with those of other companies.
Who does ESMA ESEF impact?
ESMA’s ESEF mandate affects all issuers with securities listed on any regulated market in the European Economic Area (EEA). This includes companies from both inside and outside the EEA provided they are listed on any of these regulated markets. Issuers who do not produce consolidated financial statements in IFRS will be exempt from the Inline XBRL component of the ESEF mandate. However, note that ESMA is considering waiving this prohibition, but no decision has yet been taken on this. Individual Member States are implementing test filing now. So, the time to get prepared is now.
- Marry qualitative narrative analysis with enterprise data
- Link report data directly to enterprise data sources
- Configure and enforce intelligent processes
- Enable controlled collaboration
- Employ workflow and task management capabilities
- Optimise controls and auditability
- Enhance security over sensitive data and reports
- Leverage the intuitive user interface of Microsoft Office
- Create documents with integrated tagging
- Support multiple mandates
- Deploy on cloud
Certent CDM enables companies to create the reports they need while reducing the risks, costs and data inaccuracies that often plague the entire organization. By integrating financial and business intelligence operations, Certent CDM can transform report production, making processes more efficient and effective, while ensuring data accuracy. It delivers fast time to value and a rapid return on investment by employing existing technologies such as Microsoft Excel, Microsoft Word and Microsoft PowerPoint directly in the application layer.
Certent CDM frees your overworked finance and reporting teams to spend their time on high-value analysis instead of on gathering and verifying data. It helps them gain the insights they need to deliver better decision support, and drive better performance in today’s fast moving marketplace.