European Commission (EC) gives European Single Electronic Format's (ESEF) Technical Regulatory Standards (RTS) green light for endorsement. The final Delegated Act has been published in all 23 official languages of the EU.
The Delegated Act is subject to the right of the European Parliament and of the Council to express objections, in accordance with Article 290 (2) of the Treaty on the Functioning of the European Union, before entry into force.
It implies the obligation for issuers filing IFRS consolidated financial statements to prepare annual financial reports in XHTML format, and to mark them up, using the XBRL markup language, in accordance with the ESEF taxonomy, that builds on the IFRS taxonomy developed by the IFRS Foundation. The XBRL markups should be embedded in XHTML using the Inline XBRL specifications.
