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Digital Reporting

A revolution is happening in financial reporting! A company’s annual report used to be a small, printed booklet of financial statements; they were simple and, dare we say it, a little dull. Over time, the content of these reports has grown to meet stakeholder requirements, and reports have moved online, making them more accessible and more engaging but making them more challenging for investors to compare and examine company-specific information.

The next phase in this evolution is Digital Reporting, which will bring consistency and standardisation to annual reports. Through agreed tagging methodologies, machine-readable reporting will allow investors, regulators, and stakeholders to truly compare and assess businesses with more precision and rigour than ever before.

Regulations are rapidly evolving to increase the accessibility, analysis, and comparability of financial reports. To begin with, they are focusing on financial statements, but in time, they will develop to include other financial, sustainability, and regulatory content. Building on the experience and infrastructure built for the ESEF regulations, we are excited to be at the forefront of this radical change in business reporting.

European Single Electronic Format (ESEF)

For some UK-listed companies, the FCA requires them to produce an iXBRL-tagged version of their annual reports in the European Single Electronic Format (ESEF). We can assure the electronic tagging of the annual report, combining deep iXBRL knowledge with broad IFRS experience.

With requirements expanding year on year, our team can help ensure you have tagged information correctly, provide the scrutiny and challenge to new tagging areas and perform interim testing, reducing pressure on the financial year-end.

You can find out more about our ESEF Assurance services here.