ESEF: Disclosure solution avoids unnecessary legal risks (in German)
Deutsches Aktieninstitut supports that the German legislator decided to make ESEF only mandatory for the disclosure of the yearly financial report. This avoids unnecessary legal risks that would result if ESEF was applied already in the preparation and approval process of the annual financial statements. We criticize the electronic conversion of financial statements into ESEF will be subject to formal auditing. Instead, there should be a three-year test period without any audit obligation.