News June 2020 European Single Electronic Format Regulation requirements - FRC Lab survey

European Single Electronic Format Regulation requirements - FRC Lab survey

01 June 2020

The government has today set out its position on how the ESEF (European Single Electronic Format) Regulation requirements affect the directors' sign-off process for accounts of UK-incorporated issuers.

The Government's note also addresses whether directors must consider the Inline eXtensible Business Reporting Language (iXBRL) tagging when confirming the accounts meet the requirements of the Companies Act 2006 and give a true and fair view of the company’s financial position.

To help inform the regulatory guidance, the Financial Reporting Council's Lab has prepared a short survey that seeks to understand companies preparedness for applying the ESEF Regulation.

The survey only takes 10 minutes to complete and will help inform next steps. The closing date for completing the survey is 17 June 2020.

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