Welcome to the ESEF (European Single Electronic Format) seminar on Annual Financial Reporting in Structured Electronic Format to held at Aalto University on November 26, 2018. The seminar is aimed at Finnish issuers, accounting and other financial market professionals, users of financial data as well as software and service providers. The aim of the seminar to increase the awareness on the ESEF requirements and new opportunities in business reporting.
The seminar will provide an outlook on how XBRL (eXtensible Business Reporting Language) facilitates financial reporting by rendering unstructured data into structured, machine-readable data. It will also shed light on the use of XBRL-data in machine learning projects and business analytics. The seminar consists of keynotes and three panel discussions. The keynotes are from the Financial Supervisory Authority (FIN-FSA), ESMA, and Nasdaq. The panels address (1) issuer experiences in extracting XBRL-data, (2) use of XBRL in business analytics, and (3) insights from service providers.
Background of ESEF is in the Transparency Directive, which sets rules on harmonisation of transparency requirements of issuers. It was amended in 2013 to include among others a requirement for issuers to prepare their annual financial reports in a single electronic reporting format.
The venue of the seminar is Aalto University, located in Otaniemi, Espoo. The room is TU2 and it is located in the TUAS-building (address Maarintie 8). There is a newly-opened metro line that connects Otaniemi to Helsinki city center.
Looking forward to seeing you in Otaniemi!
Riitta Pelkonen (FIN-FSA), Elina Koskentalo (XBRL Finland) & Esko Penttinen (Aalto University)