IRIS CARBON®, a global leader in disclosure management and compliance reporting, has recently announced the ability for public companies to comply with the European Securities Markets Authority (ESMA) European Single Electronic Format (ESEF) Mandate using the platform. The IRIS CARBON® platform already caters to the regulatory reporting requirements of various geographies including the US, UK, Ireland, Italy, South Africa, and India.
The ESMA Mandate is scheduled to commence from January 1st 2020. This requires all public companies across the EU to file their IFRS based Annual Financial Reports (AFRs) in a digital format, inline XBRL (iXBRL). iXBRL reporting is said to highly improve the accessibility, accuracy and analysis of the data reported.
"Our platform sets a new standard for filers to effectively comply with the ESMA Mandate. From being the first solution to cater to the ESEF Taxonomy with 23 language labels, to introducing the concept of Anchoring and easy built-in validations, I can proudly declare IRIS CARBON® is fully ready for ESEF filings" said Anuradha R.K, Product Head, IRIS CARBON®. "Additionally, we are proud to be supporting ESMA's initiative to bring in transparency and improve the financial reporting process in the European Union."
"What we are celebrating today is a testimony of our commitment to provide filers with an unparalleled suite of solutions for compliance filings across different markets" said Deepta Rangarajan, Co-founder and Director, IRIS Business Services. "This is an excellent addition to our already growing list of intuitive solutions designed to help companies streamline complex reporting processes and increase efficiency across the compliance domain."