The Friendly Guide to: ESEF

Design Strategy
Print Design

ESEF made easy

Filing ESEF/iXBRL versions of annual reports is now mandatory. the European Single Electronic Format (ESEF) presents a potentially significant change in annual reporting, required for reports with accounting years beginning on or after 1st January 2021. As well as enhancing the way financial data can be analysed, the changes could also help drive improvements in digital reporting more broadly, and offer audiences a better digital experience in the future. 

The following is our short guide to ESEF tagging solutions. To request the video of our recent webinar on ESEF and the future of reporting, please email us at hello@friendstudio.com. It's even more exciting than you can imagine.
 

A choice of tools

At Friend we are offering simple and cost-effective solutions for fully designed ESEF and future digital reporting. These solutions enable us to work with our clients’ different processes, IT and accounting systems, and also meet their digital reporting ambitions. 

Post sign-off tagging

Converting report PDF and tagging in XHTML after sign-off 

Key features: 
– A short delay to the tagged version after sign off
– Easy implementation, with no change to your current processes or tools
– Cost-effective, designed filing - ESEF matches PDF
– 24hr to 5 day tagging turnaround options
– Taxonomy mapping is approved by client ahead of final tagging and sign-off 
– Self tagging is not available in this service
– No compromises in the design and communication of the PDF and printed report
– Compatible with CtrlPrint editing, if required
– iXBRL tag auditing process to be confirmed

What it doesn’t do:
– Output is not an interactive report
– It is not responsive to the browser or device it is viewed on

Who it’s most suited for:
– Companies publishing printed report and PDF at standard mailing date (ie approx 4 weeks after prelims)
– Companies who wish to create a single format for all audiences
– Not suitable for companies who publish the report PDF at prelims

Semi-integrated tagging

Using ‘parallel’ report tagging tools 

Key features: 
– Integrates ‘tagging’ tools in parallel with report editing so the ESEF output is available instantly at sign-off
– Easy implementation, with minimal changes to your current process and timings
– Full iXBRL tagging alongside audit and sign-off
– Cost-effective, designed filing - ESEF matches PDF
– Taxonomy mapping is approved by client and auditors ahead of final tagging and sign-off (tag auditing process to be confirmed) 
– Self-tagging is available if required
– No compromises in the design and communication of the PDF and printed report
– Output can be an interactive report if required
– Compatible with CtrlPrint editing, if required

What it doesn’t do:
– Output is not responsive to the browser or device

Who it’s most suited for:
– Companies publishing their report PDF at prelims, or wish to in future
– Companies already using CtrlPrint remote editing, or may in the future

Integrated, digital-first solution

Content and tagging, fully integrated into an end-to-end digital workflow

Key features: 
– XBRL tagging fully integrated with report processes
– Single-source CMS, purpose built for digital-first reporting, with instant outputs in all formats (ESEF, PDF, print, online report)
– Easy implementation, with no changes to your current process and timings
– Cost-effective, designed filing - digital-first ESEF XHTML filing
– Taxonomy mapping is approved by client and auditors ahead of final tagging and sign-off (tag auditing process to be confirmed) 
– Self-tagging is available to you if required
– Single source content means ONE proof for all outputs
– Compatible with CtrlPrint editing, if required

What it doesn’t do:
– As a digital-first content platform, it is capable of all potential workflow and output needs

Who it’s most suited for:
– Companies publishing the report PDF at prelims, or wish to
– Companies that want to streamline their process and improve their reporting output, with fully-compliant, designed reporting across all formats
– Companies that want to publish identical reporting content across a range of formats faster and more cost effectively than currently

It's good to talk

If you haven’t already started your ESEF preparations and would like to learn more, please get in touch. hello@friendstudio.com