Nasdaq Helsinki · FIN-FSA · IFRS · Mandatory FY 2021
Finland's ESEF mandate has been live since FY 2021. Each year brings new taxonomy versions, tightening assurance obligations and evolving block-tagging requirements. XBRTags handles all of it — you send the report, we return a Nasdaq CSF-ready, audit-grade iXBRL file.
The Mandate
Full ESEF history & guide →ESEF iXBRL has been mandatory for Nasdaq Helsinki-listed companies since FY 2021. Each year, ESMA updates the taxonomy, block-tagging scope expands, and the December 2023 assurance obligation means every file must now be audit-grade — not just technically valid.
Most listed Finnish companies discover that managing ESEF internally — with software, in-house taxonomy knowledge and annual update cycles — consumes far more resource than expected. A fully managed service removes the taxonomy burden entirely and delivers a file your KHT or HT auditor can sign off without further queries.
FY 2021
ESEF Mandatory
Detail tagging of all primary IFRS financial statements. Submitted via Nasdaq Helsinki CSF.
FY 2022
Block Tagging
Block tagging of notes, accounting policies and management commentary becomes mandatory.
Dec 2023
Assurance Required
KHT / HT auditors must audit or provide ISAE 3000 assurance on every ESEF filing.
FY 2027+
IFRS 18 Impact
New taxonomy elements for IFRS 18 income categorisation. Early adopters from FY 2025.
Who Must File
ESEF iXBRL is mandatory for all companies whose securities are admitted to trading on a regulated market in Finland — primarily Nasdaq Helsinki Main Market. The requirement covers your IFRS consolidated financial statements within the Annual Financial Report.
Nasdaq Helsinki Main List — all issuers of shares and bonds on the regulated market. Mandatory since FY 2021.
IFRS consolidated statements — balance sheet, P&L, cash flow, equity movements and all notes including block-tagged disclosures.
Nasdaq First North — outside ESEF scope, but PRH iXBRL may apply from 2027. See PRH mandate →
ESEF at a Glance
What XBRTags Handles
ESMA taxonomy mapping
Annual updates tracked · extensions created and anchored
Every financial line item mapped to the correct ESMA ESEF concept. We track every annual taxonomy release so you don't have to — extension elements created where no standard concept fits, anchored to the nearest ESMA base concept, and fully documented for your auditor.
Detail + block tagging
Primary statements · notes · accounting policies · management report
Complete detail tagging of all primary financial statement line items plus full block tagging of notes, accounting policies and management report disclosures — mandatory from FY 2022. Every tag applied by a specialist, not automated.
Nasdaq CSF validation
ESMA rule set · Arelle engine · test submission before delivery
Every file is test-submitted against Nasdaq's Central Storage Facility and run through the full ESMA validation rule set via Arelle before delivery. No file leaves our workflow with validation warnings. You receive a portal-ready package.
Audit-ready documentation
ISAE 3000 · mapping walkthrough · anchoring report · reconciliation
Full tagging decision documentation formatted for your KHT or HT auditor's ISAE 3000 assurance engagement. Mapping walkthrough, anchoring review report, tag-level reconciliation and working papers — everything needed for the auditor to sign off without further queries.
Unlimited revisions
Auditor queries · late corrections · re-tagging · always free
Auditors raise questions. Directors amend figures. Regulators request clarifications. Every XBRTags engagement includes unlimited revisions at no additional cost — each revision fully re-validated before re-delivery.
XBRTags vs Software
Software
Your team learns the taxonomy, tags manually, fixes validation errors, re-tags annually.
XBRtags
Submit your report. Receive a validated file. No taxonomy knowledge needed.
Annual updates
Your responsibility to re-map extensions to new ESMA taxonomy each year.
Annual updates
Included. We track every ESMA taxonomy release and apply it to your filing.
Revisions
Often charged per revision round. Each round = hours of specialist time.
Revisions
Unlimited. Always free. Re-validated and re-submitted each time.
Assurance docs
Basic export only. Auditors must interpret raw XBRL outputs themselves.
Assurance docs
Full ISAE 3000 package — mapping walkthrough, anchoring report, reconciliation.
Client Feedback
Mikko L.
CFO, Helsinki-listed industrial group
"The taxonomy update from FY 2023 to FY 2024 changed how our intangibles note was tagged. XBRTags handled it without us needing to know anything about it. The file was with Nasdaq CSF three days ahead of deadline."
Anna K.
Finance Director, Nasdaq Helsinki-listed company
"After the assurance requirement came into force in December 2023, we needed documentation our KHT auditors could actually work with. XBRTags produced exactly that. The mapping report meant zero back-and-forth with the audit team."
Petri V.
Head of Group Reporting, listed Finnish conglomerate
"We had complex extension elements from a recent acquisition. XBRTags resolved the anchoring and re-validated the file the same day. That would have taken our internal team days to work out from scratch."
FAQ
ESEF iXBRL is mandatory for all companies with securities admitted to trading on Nasdaq Helsinki. It covers IFRS consolidated financial statements in your Annual Financial Report, submitted to the Finnish OAM via Nasdaq Helsinki CSF. It has been mandatory since FY 2021. Block tagging of notes and disclosures has been mandatory from FY 2022.
Under the Finnish Securities Markets Act amendment of 21 December 2023, an issuer's KHT or HT auditor must audit or perform ISAE 3000 assurance on the ESEF file. The scope covers the human-readable layer, the machine-readable XBRL data layer, and the accuracy of taxonomy mapping including anchoring of extension elements. XBRTags produces output specifically formatted to support this engagement.
IFRS 18 replaces IAS 1 for periods beginning on or after 1 January 2027. ESMA is updating the ESEF taxonomy to reflect IFRS 18 income categorisation requirements. XBRTags operates on the current ESMA taxonomy release and supports IFRS 18 elements for early adopters. Contact us to discuss your specific IFRS 18 transition timeline.
Yes. A Nasdaq Helsinki-listed group typically needs ESEF iXBRL for the consolidated Annual Financial Report and, from 2027, PRH iXBRL for each qualifying Finnish subsidiary's Trade Register filing. XBRTags handles both under one engagement — one contact, one workflow, coordinated delivery on Nasdaq CSF and ytj.fi.
Revisions are unlimited and always free. We update and re-validate the file as many times as needed — including re-running the Nasdaq CSF test submission on each revision. This applies whether the changes are auditor-driven, director-driven or regulatory.
Tell us your filing timeline. We respond with scope, delivery date and a fixed price within one business hour. No software to learn, no taxonomy training required.
+ 31 (10) 8906661 · hello@xbrtags.fi · Mon-Fri 09:00-18:00 GMT