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Commission Delegated Regulation (EU) 2022/352 of 29 November 2021 amending Delegated Regulation (EU) 2019/815 as regards the 2021 update of the taxonomy laid down in the regulatory technical standards on the single electronic reporting format (Text with EEA relevance)

Type Delegated Regulation

Publication 2022-03-07

State In force

Text As published

Department European Commission, FISMA

Source EUR-Lex

articles 3

This is the act as published. Later amendments are not folded into the text below: each one is a separate act in this repository and an entry in this law's history.

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7.3.2022	EN	Official Journal of the European Union	L 77/1

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC ¹, and in particular Article 4(7) thereof,

Whereas:

(1) Commission Delegated Regulation (EU) 2019/815 ² specifies the single electronic reporting format, as referred to in Article 4(7) of Directive 2004/109/EC, to be used for the preparation of annual financial reports by issuers. Consolidated financial statements included therein are prepared either in accordance with International Accounting Standards, which are commonly referred to as International Financial Reporting Standards (‘IFRSs’), adopted pursuant to Regulation (EC) No 1606/2002 of the European Parliament and of the Council ³, or in accordance with IFRSs as issued by the International Accounting Standards Board (IASB) which, based on Commission Decision 2008/961/EC ⁴, are considered as equivalent to IFRSs adopted pursuant to Regulation (EC) No 1606/2002.

(2) The core taxonomy to be used for the single electronic reporting format is based on the IFRS Taxonomy and is an extension of it. The IFRS Foundation annually updates the IFRS Taxonomy to reflect, amongst other developments, the issuance of new IFRSs or the amendment of existing IFRSs, the analysis of disclosures commonly reported in practice, or improvements to general content or technology of the IFRS Taxonomy. Therefore, it is necessary to update the regulatory technical standards to reflect each annual update of the IFRS Taxonomy.

(3) In March 2021 the IFRS Foundation published the updated version of the IFRS Taxonomy. This update should therefore be reflected in Delegated Regulation (EU) 2019/815.

(4) Annex VI of Delegated Regulation (EU) 2019/815 currently specifies for each element of the core taxonomy a standard label (‘label’) and a documentation label (‘documentation label’). In order to facilitate a harmonised application of the requirement to mark up IFRS consolidated financial statements, it would be appropriate that this Regulation includes, where relevant, the additional label types foreseen by the IFRS Taxonomy. Therefore Annex VI should be amended to include, where relevant, additional label types.

(5) In order to allow enough time for the effective implementation of the requirements by issuers, and to minimise compliance costs, this Regulation should apply to annual financial reports containing financial statements for financial years beginning on or after 1 January 2022. However, issuers should be allowed to adopt the taxonomy specified in this Regulation already for financial years beginning on or after 1 January 2021.

(6) Delegated Regulation (EU) 2019/815 should therefore be amended accordingly.

(7) This Regulation is based on the draft regulatory technical standard submitted by the European Securities and Markets Authority to the Commission.

(8) This Regulation is a technical update to Delegated Regulation (EU) 2019/815 to reflect updates in the IFRS taxonomy and provide additional guidance to mark-up IFRS financial statements. As such it does not constitute new policy or a substantial change to existing policy. ESMA has not conducted open public consultations on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits or requested the advice of the Securities and Markets Stakeholder Group established under Article 37 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council ⁵ because doing so would have been highly disproportionate to the scope and impact of this amendment,

HAS ADOPTED THIS REGULATION:

Article 1

Amendments to Delegated Regulation (EU) 2019/815

Delegated Regulation (EU) 2019/815 is amended as follows:

(1) Annex I is amended in accordance with Annex I to this Regulation;

(2) Annex VI is amended in accordance with Annex II to this Regulation.

Article 2

Transitional provision

By way of derogation from Delegated Regulation (EU) 2019/815 as amended by Commission Delegated Regulation (EU) 2020/1989 ⁶, this Regulation may be applied to annual financial reports containing financial statements for financial years beginning before 1 January 2022.

Article 3

Entry into force and application

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

It shall apply from 1 January 2022 to annual financial reports containing financial statements for financial years beginning on or after 1 January 2022.

However, Article 2 shall apply from the date of entry into force of this Regulation.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 29 November 2021.

For the Commission

The President

Ursula VON DER LEYEN

OJ L 390, 31.12.2004, p. 38.

Commission Delegated Regulation (EU) No. 2019/815 supplementing Directive 2004/109/EC 2002 of the European Parliament and of the Council with regard to regulatory technical standards on the specification of a single electronic reporting format (OJ L143, 29.5.2019, p. 1).

Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (OJ L 243, 11.9.2002, p. 1).

Commission Decision of 12 December 2008 on the use by third countries' issuers of securities of certain third country's national accounting standards and International Financial Reporting Standards to prepare their consolidated financial statements (OJ L 340,19.12.2008, p. 112).

Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).

Commission Delegated Regulation (EU) 2020/1989 of 6 November 2020 amending Delegated Regulation (EU) 2019/815 as regards the 2020 update of the taxonomy laid down in the regulatory technical standards for the single electronic reporting format (OJ L 429, 18.12.2020, p. 1).

ANNEX I

Annex I to Delegated Regulation (EU) 2019/815 is amended as follows:

(1) the definition of esef_cor is replaced by the following:

‘prefix applied in the Tables of Annex IV and VI for elements defined in the namespace “http://www.esma.europa.eu/taxonomy/2021-03-24/esef_cor” ’;

(2) the definition of esef_all is replaced by the following:

‘prefix applied in the Table of Annex VI for elements defined in the namespace “http://www.esma.europa.eu/taxonomy/2021-03-24/esef_all” ’;

(3) the definition of ifrs-full is replaced by the following:

‘prefix applied in the Tables of Annexes IV and VI for elements defined in the namespace “http://xbrl.ifrs.org/taxonomy/2021-03-24/ifrs-full” ’.

ANNEX II

In Annex VI to Delegated Regulation (EU) 2019/815 the table is replaced by the following:

‘Table

Schema of the core taxonomy to mark up IFRS consolidated financial statements

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