XBRL took the EU world by storm. Are you still sailing in the right direction?
The time of XBRL reporting is now. Every year companies in the European Union need to comply with the constantly updated ESEF regulations from ESMA. From 2021 onwards, companies must report their consolidated financial statements in XBRL format. Have you already started your XBRL report?
XBRL is used for preparing, exchanging and publishing financial information. This is all for the sake to make reporting between organizations more transparent, effective and streamlined. While the XBRL format improves streamlining financial data, it does bring extra work to the table.
time is ticking
Companies tend to overlook the amount of time necessary for their ESEF reporting. Imagine finally finishing the annual statement only to realize you still need to create or update the taxonomy and tag the documents in XBRL. Not meeting the compliance deadlines results not only in high levels of stress but also in unnecessary costs and last-minute work.
Where problems may occur, a solution is born. Global Connect Consultancy B.V. assists companies with the XBRL process and tools. With Amelkis XBRL, reporting becomes more accurate and compelling: map your data, create/update taxonomy and tag your documents. We can train you, assist you with last-minute data gathering or do the work on behalf of your company. In this manner, you can report facts and statements to the authorities with confidence.
Get started with XBRL
A good start is half the battle. Want to learn how to start your (first) ESEF reporting?
Do not hesitate to learn more by watching our “Get started with XBRL” video, or by requesting a demonstration below.