MESSAGE and AMANA have signed a partnership that enables Italian listed companies to comply with ESEF regulations with a certified solution that is already widely used in the European listed company market.
The European Securities and Markets Authority (ESMA) has established that all listed companies (around 5,000 in Europe) must publish their Annual Financial Report in xHTML format. The requirement for Italy comes into force in 2022 for the fiscal year 2021 and makes it mandatory to tag Consolidated Annual Financial Reports in Inline XBRL (iXBRL) using the IFRS taxonomy. For the first year, the regulation applies only to the main Consolidated Financial Statements (Balance Sheet, Income Statement, Statement of Changes in Equity and Cash Flow Statement). In the following years, the requirement will be extended to the Notes to the Consolidated Financial Statements and also to the Sustainability Reports (ESG).
"AMANA XBRL Tagger" is a stand-alone solution for tagging Annual Financial Reports in iXBRL format according to the ESEF requirement. Any type of document (PDF, Word, InDesign, etc.) can be tagged without disrupting the work process. In a short time, an ESEF-compliant report can be created without any special technical nowledge.
Dario Mezzaqui, Head of International Partnerships and co-founder of Message:
Italian companies will be able to use the software starting from the Financial Statements from previous year in order to be ready for the tagging of data for the fiscal year 2021”.