We are an experienced implementation and consultation partner for iXBRL tagging tools for businesses and auditors
Orients Digit is an official CoreFiling software provider for ESEF reports in the Baltics and Scandinavia.
Orients Digit is the leader in ESEF reporting services in the Baltics. Our team of professionals has been implementing iXBRL reporting projects and advising companies on ESEF requirements already for more than three years. We provide our clients with an XBRL International-certified tagging tool and/or iXBRL full-cycle reporting service. Our clients are:
- listed companies that require tagging their financial statements with the IFRS XBRL taxonomy;
- the large companies that are subject to CSRD and require the electronic format of the sustainability report tagged with the ESRS XBRL taxonomy.
We are the first to represent Baltics at the XBRL International consortium. Read more about that here: https://www.orients.lv/en/blog/XBRL-International/.
According to ESEF (European Single Electronic Format) reporting requirements starting from the year 2021 – all listed companies are required to report their financials in XHTML.
IFRS consolidated financial statements are required to be tagged using Inline XBRL (iXBRL) format that shall be embedded in the XHTML document version. According to ESEF it is required to tag main financial statements and ~ 230 text blocks of all financial information notes. For tagging IFRS taxonomy should be used. Tagging process should be done using a specialized XBRL International-certified tool. For ESEF conversion, we offer the CoreFiling Seahorse tool (read more about it below).
Large companies subject to CSRD
The requirements of the Corporate Sustainability Reporting Directive (CSRD) envisage the digitization (electronic format) of the sustainability report. So your sustainability report, which will be part of the management report in the annual report, will have to be submitted to the regulatory authority and published on the website in the European Single Electronic Format (ESEF). It means that the management report will be in XHTML format and the sustainability report will be tagged according to the Inline XBRL (iXBRL) specification using the ESRS XBRL taxonomy. You can take a look at the ESRS XBRL taxonomy by contacting us. Read more about the digitization of sustainability reports here: ESEF format for digital sustainability reporting. What does that mean for the companies?
In 2022 Orients Digit in cooperation with CoreFiling have created the first publicly available digital sustainability report template in Europe. To tag the report, the project of the International Sustainability Standards Board (ISSB) taxonomy was used. Check it here.
iXBRL tagging and audit tools for financial and sustainability reports
Orients Digit is the official Corefiling partner in the Baltics and Scandinavia for iXBRL-based systems. Importantly, our partners CoreFiling are the inventors of the Inline XBRL format. Therefore, having the best knowledge of the specification of this data format, the CoreFiling team has been able to offer the most efficient and user-friendly XBRL tools to the market for over 25 years.
For creating ESEF reports for companies we offer CoreFiling Seahorse - XBRL International certified cloud-based tagging solution that automatically produces ESEF-compliant accounts. With CoreFiling Seahorse ESEF requirements can be met by converting from:
- MS Word format
- Excel format
- InDesign format
- PDF format.
The CoreFiling Seahorse license includes a three-hour training on how to use the system.
Additionally, as per the client's wish our team of professionals provides full-cycle support in the process of financial and sustainability reports' tagging according to ESEF.
Read more about the product: https://www.corefiling.com/esef/
To see a demo of CoreFiling Seahorse and learn more about the terms of cooperation, contact us at firstname.lastname@example.org.
For a review of the ESEF reports we provide certified tool - CoreFiling Beacon. That is a powerful XBRL full-spectre review framework for auditors. Read more about the product: https://www.corefiling.com/solution-digital-assurance/.
Corefiling is a UK based global software and services company that already for more than 25 years specialises in data efficiency, particularly in the area of external reporting and use of XBRL technology. Corefiling's software and services cover the entire reporting ecosystem including data standards definition, filing preparation, assurance and data collection.
More about ESEF digital reporting for annual reports and sustainability reporting read:
- Why is the digital Inline XBRL format essential for structuring the IFRS annual and sustainability reports?
- ESEF format for digital sustainability reporting. What does that mean for the companies?
- ESG data is new gold
Few reviews on ESEF projects
"Orients was an invaluable cooperation partner in tagging our annual report according to ESEF requirements. We highly appreciate the Orients team's ability to fit in within short deadlines, as well as their independence in performing work and communicating with our auditors." ARTURS ROZE, Finance Manager at IPAS “INDEXO”
“We appreciate the service provided by Orients Digit. Our cooperation was characterized by accuracy, quality and inline with the required timelines.” KASPARS GIBEIKO, Head of Accounting Department at “Attīstības finanšu institūcija Altum” AS
"Thank you Orients Digit team for the productive cooperation within iXBRL tagging of the annual report in compliance with ESEF format. The cooperation was constructive, the attitude was kind and helpful. I highly appreciate the involvement of Orients Digit in the communication with Nasdaq in settling the overall issue, as well as the effective communication with the auditors. Thank you for the prompt answers to the questions and timely explanations!" ZANE JOZEPA, CFO at “SAF Tehnika” AS