ESEF Taxonomy complements

ESEF Taxonomy 2021 with IFRS Taxonomy 2021 Update 1
(Disclosure of Accounting Policies and Definition of Accounting Estimates)

The IASB published on February 15th, 2022 an update to the IFRS Taxonomy 2021 that reflects the amendments to:

  • IAS 1 and IFRS Practice Statement 2, issued in February 2021 - Disclosure of Accounting Policies.

  • IAS 8, issued in February 2021 - Definition of Accounting Estimates.


These changes will be applicable starting January 1st, 2023 and are expected to endorsed by the European Union before the first application date.

The updates to the taxonomy include significant changes and guidance to the use of text block elements that will notably be used in ESEF for block tagging.

The Description of other accounting policies relevant to understanding of financial statements [text block] element is now deprecated.

The IASB expects preparers to instead tag all material accounting policies with a common element, Disclosure of material accounting policies. This confirms that issuers are expected to use nested block tagging when tagging the notes to their financial statements.

The update also states that it would be appropriate to tag issuer-specific accounting policies with issuer-specific extension elements anchored to the Disclosure of material accounting policies parent.

 

To assist users of the ESEF Taxonomies to prepare for these changes, Corporatings built an unofficial version of the ESEF Taxonomy mirroring the usual ESEF Taxonomy architecture, but linked to the updated IFRS Taxonomy 2021 instead. This taxonomy can therefore be plugged into conformant software to help preparers for exploration and mapping purposes. This taxonomy being unofficial, its esef_cor.xsd entry point should of course not be used in an issuer's final report.

The taxonomy includes the complete list of elements to be mandatorily tagged when present in a report (see below), including the new text blocks included in the IFRS Taxonomy updates.

Labels for the new elements are only available in English and French so far. If you wish to contribute to the full availability of these resources in other languages, please contact us! 

ESEF Taxonomy 2021 with mandatory tagging complements

The ESEF Taxonomy 2021 contains a section (extended link role) identifying elements that must be used in tagging when corresponding data is present in the report.
However, that section is missing a few elements that were added to the technical specifications after the initial draft.

 

Corporatings built an extension to the ESEF Taxonomy 2021 where the missing elements have been added to that same section. No other changes are made in the extension taxonomy.

The esef_all.xsd entry point in this taxonomy can be used instead of the ESEF Taxonomy 2021 esef_all.xsd entry point for exploration purposes (discovery and selection of tags). It doesn't change anything accessible through the esef_cor.xsd entry point used when building an issuer's extension taxonomy.

ESEF Taxonomy 2020 with mandatory tagging complements

The ESEF Taxonomy 2020 contains a section (extended link role) identifying elements that must be used in tagging when corresponding data is present in the report.
However, that section is missing a few elements that were added to the technical specifications after the initial draft.

 

Corporatings built an extension to the ESEF Taxonomy 2020 where the missing elements have been added to that same section. No other changes are made in the extension taxonomy.

The esef_all.xsd entry point in this taxonomy can be used instead of the ESEF Taxonomy 2020 esef_all.xsd entry point for exploration purposes (discovery and selection of tags). It doesn't change anything accessible through the esef_cor.xsd entry point used when building an issuer's extension taxonomy.