Issuers To Note: Update To ESEF Reporting Postponed To 2024

ESMA decision to postpone ESEF RTS amendment

On the 15^th of May, 2023, the MFSA published a circular informing the market of the European Securities and Markets Authority (ESMA)'s decision to postpone the amendment of the European Single Electronic Format (ESEF) Regulatory Technical Standards (RTS) until 2024. The reasons for ESMA's decision to postpone said amendment are: the limited changes to the 2023 IFRS Taxonomy; the added value of increased monitoring of the ESEF implementation; and the impact of a system update on preparers and software vendors.

The ESEF Taxonomy used for the single electronic reporting format of the IFRS consolidated financial statements is based on the IFRS Taxonomy. The latter is updated annually to reflect, amongst other developments, the publication of new IFRSs, changes to existing IFRSs, the analysis of disclosures commonly reported in practice, and improvements to general content and technology. Accordingly, ESMA's amendments to