ESMA has published a version 1.1 of the ESEF taxonomy 2022. Earlier, ESMA had announced that there would be no new taxonomy this year and that the digital annual reports for 2023 had to be prepared with the ESEF taxonomy 2022.
According to ESMA, the unexpected update contains minor corrections that should improve the usability of the taxonomy. No further details are mentioned. To determine the impact of the new version, XBRL Netherlands has fully examined all changes. The most important conclusion is that all companies can continue with version 1.0. None of the changes affect the content of the Report Package. The taxonomy defined by the organization and the Inline XBRL reporting do not need to be adjusted.
In version 1.1. a total of three changes have been made.
- The first change concerns the correction of the French label for the IFRS concept DisclosureOfIntangibleAssetsAndGoodwillExplanatory.
- The second change concerns a change in the linkbase formula. Here, they forgot to change the scheme for percentItemType (percentages), which meant that the checks for the correct use of a percentage did not work.
- The latest change is the explicit prohibition of the standard IFRS labels on the abstract elements with which every part of a financial statement must start (e.g. IncomeStatementAbstract)
Normally, a new version would result in a new date in the namespace used to identify the taxonomy (https://www.esma.europa.eu/taxonomy/2022-03-24/esef_cor). By the way, the namespace is determined by the RTS (Regulatory Technical Standards) and has therefore not been changed with version 1.1. In fact, versions 1.0 and 1.1 are identical because they have the same namespace.
If you are interested in version 1.1, you can download it here.