Upload your annual report in PDF format, tag the report with a taxonomy of your choice, and download the generated CSRD report ready to be published.
Facilitate compliance reporting for CSRD
Accelerate the time it takes to submit your annual report in XBRL format for CSRD. CFOUR Comply allows you to fulfil your regulatory requirements by providing a cloud solution where you can convert your PDF annual reports to electronic XHTML, tag the report with XBRL concepts from your required taxonomy, extend the taxonomy, and produce a compliant XBRL submission
What is CSRD?
How will CSRD affect you?
On 5 January 2023, the Corporate Sustainability Reporting Directive (CSRD)entered into force. This new directive modernises and strengthens the rules concerning the social and environmental information that companies have to report. A broader set of large companies, as well as listed SMEs, will now be required to report on sustainability – approximately 50 000 companies in total. The first companies will have to apply the new rules for the first time in the 2024 financial year, for reports published in 2025.
The European Financial Reporting Advisory Group (EFRAG) will be responsible for developing draft European standards. The European Commission will adopt the final version of the standards as a delegated act, following consultations with EU member states and a number of European bodies.
Who and when?
– 2025 reporting on the financial year 2024 for companies already subject to the NFRD (Must be a large EU undertaking which is a ‘public interest entity’; and (ii) has more than 500 employees.);
– 2026 reporting on the financial year 2025 for large companies that are not currently subject to the NFRD (Must meet two of the following criteria (either as a single entity or on a consolidated group basis) (i) Balance sheet total of EUR 20 million; (ii) Net turnover of EUR 40 million; and/or (iii) An average of 250 employees during the financial year.);
– 2027 reporting on the financial year 2026 for listed SMEs (except micro undertakings), small and non-complex credit institutions and captive insurance undertakings (Must have securities listed on a regulated EU market and meet two of the following criteria: (i) Balance sheet total at least EUR 4 million; and/or (ii) Net turnover: EUR 8 million; and/or (iii) An average of 50 employees during the financial year.);
– 2029 reporting on the financial year 2028 for third-country undertakings with net turnover above 150 million in the EU if they have at least one subsidiary or branch in the EU exceeding certain thresholds (Meet the following criteria: (i) Net turnover of EUR 150 million in the EU for each of the last two consecutive financial years; and (ii) at least one subsidiary or branch in the EU which for a subsidiary which meets the criteria for 2026 and 2027 and for a branch that has a turnover of more than EUR 40 million.).
A streamlined workflow towards CSRD reporting
With CFOUR Comply we focused on simplifying the process that you as the issuer need to follow to generate a CSRD submission which is ready to be published to your OAM (Officially Appointed Mechanism) as well as your website. Our cloud solution handles everything from precise conversions of your annual report in PDF format to HTML and providing with you with an intuitive interface to tag your financial statements within the report. After you tag your report and fix any validations issues you can download the XBRL generated by Comply and proceed with the submission.
Automated tagging with Artificial Intelligence
TAGSense is CFOUR Comply’s artificial intelligence engine that automates the tagging process. Our innovation translates and interprets semantics to identify with a high degree of certainty the matching tags. This considerably reduces the time to deliver the compliance reporting by 70%.
Add extension concepts to cater for entity specific disclosures and anchor to the base taxonomy
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