Application of ESEF Regulation to annual financial reports for financial years beginning on or after 1 January 2021

Earlier this year, it was announced that the requirements of the European Single Electronic Format (ESEF) Regulation would be postponed  for one year as part of the EU Capital Markets Recovery Package. In light of this delay, under the EU Transparency Directive and ESEF Regulation, annual financial reports of issuers which have securities admitted to trading on an EU regulated market must be prepared in accordance with ESEF requirements for financial years beginning on or after 1 January 2021. On 1 November, IAASA published a reminder to relevant issuers that 2021 statutory financial statements must be prepared in accordance with ESEF requirements. It is important that relevant entities consider the impact of these requirements on reporting timelines and engage with auditors early in this regard. 

More information:

https://www.centralbank.ie/regulation/covid19-flexibility-measures/other