Main features • ESEF Reporting

iXBRL accessible to business users for regulatory peace of mind

Prepare your extension taxonomy, map and tag financial statements and get comprehensive validation, all within the same tried and trusted, easy to use tool which is designed with consolidation and IFRS experts for the best user experience. Our solution means there is no need to have XBRL expertise within your organisation to be compliant.

Covering every stage of the ESEF production process, Invoke ESEF lets you produce your finalised Annual Financial Report or Universal Registration Document up to the final technical files in the format required by ESMA, while preserving design elements and aesthetic appeal.

With native XBRL technology, and a dedicated regulatory watch team, Invoke provides you with first-rate regulatory maintenance to guarantee you an ever up-to-date, future-proofed solution.

SMART MAPPING OF FINANCIAL STATEMENTS

For consolidation teams, the first step to ESEF compliance is reconciling consolidated financial statements in IFRS with the ESEF XBRL base taxonomy, published by ESMA. The Invoke ESEF application lets users switch between the two views of IFRS regulatory framework: an “expert” mode used to browse the taxonomy’s IFRS concept trees, and a “mapping” mode, where Invoke’s smart, multilingual suggestion engine selects the most relevant elements of the ESEF taxonomy for users to easily map primary financial statements.

CREATING THE XBRL EXTENSION TAXONOMY

The Invoke ESEF app automatically builds the issuer’s extension taxonomy. When needed, users can create their own extension elements in a simple, guided interface which includes creation of the extension element, anchoring and multilingual label management. And in just a few clicks, you can define the calculation relationships between elements using the visual calculation definition bar.

EASY MANAGEMENT OF ANCHORING

Anchoring is a new feature of ESEF, introduced by ESMA. It means that any extension element must be attached to one or more accounting elements in the ESEF reference taxonomy. Invoke ESEF is the first application to easily and natively manage ‘wide’ anchors, which are always required, and ‘narrow’ anchors, which apply if the extension element includes several IFRS concepts. To make things quick and easy, the Invoke ESEF interface clearly specifies the actions the user should take, and a handy colour code gives visual clues in a financial statement’s table view.

VALIDATION AT EVERY STEP

Invoke ESEF creates ESEF reports that are perfectly compliant. It’s XBRL engine and a team dedicated to monitoring regulatory developments means that the required controls are exhaustive at every step and maintained as regulations change. ESMA’s ESEF Reporting Manual instructions are run in the application and taxonomical rules are verified by the Invoke XBRL engine in real time, with detected errors highlighted and explained. At the publication stage, Invoke ESEF performs a final technical validation of the extension taxonomy and iXBRL document produced, for a compliant, ready-to-disclose taxonomy package.

VERSIONING AND COMPLIANT PUBLICATION

Invoke ESEF gives you versioning over time, including the historisation of source data, ESEF base taxonomy versions, extended taxonomies and documents. Once the URD or AFR is finalised and approved, Invoke ESEF performs the final publication of the iXBRL legal document and its corresponding extension taxonomy in the format expected by the regulator (generation of the taxonomy package).

With offices in London, Paris, Luxembourg, Lisbon and Stockholm, Invoke provides financial, regulatory and tax reporting solutions. It is a regulatory technology partner of choice for supervisory bodies worldwide, as well as financial institutions which fall under the scope of complex regulatory imperatives such as Solvency II, Basel III, FATCA, CRS/AEoI, AnaCredit, CbCR, LDR and SRF, or ESEF reporting.

Invoke is a pioneer in XBRL reporting and provides next-generation, generic, XBRL-native software tools. Invoke is notable as one of the founding members of the XBRL France non-profit association (established in 2006) and continues to hold a seat on the French Jurisdiction Board, while also being heavily involved in a number of key technical and functional working groups, both locally and at the international level as a direct member of the XBRL International consortium.

Incorporating next-generation technology, advanced data-governance, collaborative workflow and disclosure management features, Invoke software solutions associate fifteen years of technical expertise with extensive domain knowledge. They have already been successfully implemented in more than 34 countries worldwide.

Invoke won “Best Data Solution” at the InsuranceERM’s Awards in 2016 and “Best Regulatory Reporting Software” in 2017.