28 Oct Do auditors need to sign off on the tagging of ESEF iXBRL?
London’s leading financial iXBRL compliance solutions provider is urging businesses to take advantage of its expertise in order to meet new government legislations for ESEF filing.
Do auditors need to sign off on the tagging of ESEF iXBRL?
There was an audit requirement under what’s called “the Audit Directive in EU law” for ESEF to have an audit report which would have an opinion on whether the accounts have been prepared in accordance with the statutory requirements. The European Commission’s view that ESEF compliance should be considered a statutory requirement.
However, in December 2020 the UK government announced its decision not to introduce this mandatory auditor requirement.
So in the UK , there is no requirement for auditors to audit the ESEF tagging.
A company may choose to do this voluntarily, but there is no requirement for them to do so.
For a limited time, 1StopXBRL are offering a FREE service to convert voluntary 2020 accounts. LEARN MORE>>
For over 25 years 1STOPXBRL’s CEO has been providing financial compliance solutions to clients across the globe. From international corporations to independent financial and legal firms, service is steeped in quality, professionalism and an in-depth understanding of financial matters.
To find out more about 1STOPXBRL and how the group is helping businesses get ESEF ready, contact:
+44 (0) 20 77577470
Located in the heart of London’s financial centre, 1STOPXBRL is a quality focussed firm that specialises in providing global financial compliance solutions. Clients are offered tailor made services, backed with ISO 9001 and ISO 14001 Certification, as well as HMRC Accreditation for Accounts & Tax Computation iXBRL services. The group boasts a wide portfolio of international clients, including both large and small companies.