XBRL & ESMA
ABAF/BVFA – EFFAS is also represented in ESMA and in XBRL.
ESMA, the European Securities and Markets Authority, is an independent EU Authority that contributes to safeguarding the stability of the European Union’s financial system by enhancing the protection of investors and promoting stable and orderly financial markets.
XBRL aims to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
ESMA has published end of December 2016 a feedback statement setting out the digital format which issuers in the European Union must use to report their company information from 1 January 2020. It concludes that Inline XBRL is the most suitable technology to meet the EU requirement for issuers to report their annual financial reports in a single electronic format because it enables both machine and human readability in one document.