On 23 February 2022, we hosted an Amelkis XBRL demonstration. The main goal was to show how this Software as a Service solution enhances financial reporting for the listed companies that prepare financial statements in IFRS (and US GAAP). While XBRL is nothing new, the mandatory ESEF reporting is. 

XBRL is the open international standard for digital business reporting. In recent times, much has changed regarding financial reporting. Listed companies in the European Union now must comply with ESEF, the European Single Electronic Format. To do so, companies need XBRL software. Without XBRL software or plug-ins, issuers cannot open XBRL files, create taxonomy extensions, tag documents and validate their documentation before submitting it to the authorities. 

During this demonstration, we show you how to prepare for the necessary XBRL steps to take in 2021 and 2022. From start to finish, Amelkis XBRL is the innovative software solution enhanced by the support and expertise of Global Connect Consultancy.