The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published the 2024 European Single Electronic Format (ESEF) XBRL taxonomy files and an update to the ESEF Conformance Suite to facilitate the implementation of the ESEF Regulation.

ESMA aims to support the implementation of the ESEF by providing XBRL taxonomy files and Conformance Suite test files that align with the requirements of the 2024 draft update to the ESEF Regulation and the 2024 update to the ESEF Reporting Manual.

Today’s publication intends to assist software vendors and issuers in preparing the 2024 IFRS consolidated financial statements using the most updated version of the ESEF format. It will also facilitate EU issuers listed on US capital markets (known as ‘Foreign Private Issuers’) in meeting their reporting obligations with the US Securities and Exchange Commission (SEC). Nevertheless, the 2024 ESEF taxonomy files and the updated Conformance Suite will only discharge issuers from their EU ESEF obligations for their annual financial reports concerning financial years beginning on or after 1 January 2024 after the entry into force of the 2024 update to the ESEF Regulation.

Issuers may alternatively use the 2022 ESEF taxonomy files and conformance suite published by ESMA in December 2022, for annual financial reports concerning financial years beginning on or after 1 January 2024.