Second ASCG Preparer Forum on Electronic Financial Reporting according to ESEF

On 18 March 2020, the second ASCG’s preparer forum on electronic financial reporting according to ESEF was held as a video and telephone conference.

The event was motivated by the draft bill (government draft) of a law to implement the amendments to the EU Directive 2013/50/EU (Transparency Directive Amendment Directive) with regard to a uniform electronic format for annual financial reports, which was submitted on 22 January 2020 by the German Federal Government.

More than 70 representatives from ASCG’s members (companies, audit firms and associations) discussed, among other things, the following topics:

• Legislative implementation of ESEF in Germany – government draft bill and the way forward
• Report from the iXBRL working group of XBRL Deutschland e.V.
• Technology and implementation of the ESEF

The preparer forum exclusively provides our members with insights into current developments and serves as a platform to discuss issues related to the implementation of electronic financial reporting according to ESEF.

We would like to thank our member companies and association for their participation and look forward for the second meeting of the preparer forum on electronic financial reporting according to ESEF, which is expected to take place as a video and telephone conference at the end of April 2020.