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Narrative Reporting: European Securities and Markets Authority (ESMA) Disclosure Management with iXBRL

Tanya Heise
Sr Principal Technical Support Engineer

Thank you to Dave Roberts, Product Management, for his presentation on this topic.

What is ESMA and how can I learn about ESMA Disclosure Management with iXBRL for Narrative Reporting?

The European Securities and Markets Authority (ESMA) has published a Feedback Statement setting out the digital format which issuers in the European Union (EU) 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.

Narrative Reporting with Disclosure Management - ESMA 2020

What does all of this mean as a customer?

  • All issuers in 2020 in the European Union will need to report their annual filing in iXBRL
  • Narrative Reporting is uniquely suited to retrieve data from disparate data sources
  • Narrative Reporting is cross platform compatible with other Oracle products which the customer may need such as TRCS, SDM, PCMCS, FCCS etc.
  • Narrative Reporting can manage both the annual reporting as well as create the needed iXBRL for this requirement

Assessing the ESMA Opportunity

  • Starting January 1, 2020, all EU companies (approximately 5,300 issuers) will be required to file their ESMA financials using iXBRL (XHTML w/ embedded XBRL).
  • Server side and client side changes are required to support this opportunity in Narrative Reporting with Disclosure Management and are planned for release 19.02 - 19.04
  • The ESEF taxonomy is open, based on IFRS and will require companies to extend company specific concepts and anchor these extensions to standardized concepts in the ESEF taxonomy. ESEF sets out that where an extension taxonomy element combines a number of elements of the ESEF taxonomy, issuers shall anchor that extension taxonomy element to each of the elements in the ESEF taxonomy it combines, except where these elements are reasonably deemed insignificant.
  • ESMA requires that all consolidated face financials, such as Balance Sheet, Income Statement , Statement of Cash Flow, and so on must be detailed and tagged and all Notes to Financial Statements be individually tagged as single blocks of text.
  • Regulator iXBRL tagging will be completed in the same manner as other regulators with the exception that any text string or text block tag that is in a language other than English will need to specify the language in the Mapping Tool UI.

Disclosure Management

  • Statutory Reporting Made Simple - Mapping allows you to drag and drop XBRL tagging in MS Office
  • Creating XBRL instance documents
    • Full regulatory-specific validation support for ESMA via Arelle plug in
    • View iXBRL document using Arelle plug in
    • Publish in XBRL, iXBRL, EDGAR HTML, PDF, Word
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