Europe will offer ESEF one year delay

In the context of COVID-19, the Council has also proposed to amend the so-called Transparency Directive, to provide member states with the option to postpone, by one year, the requirement for listed companies to prepare all annual financial reports in a European Single Electronic reporting Format (‘ESEF’) for financial years beginning on or after 1 January 2020. This may free up companies’ resources for more urgent needs.