The European Financial Reporting Advisory Group (EFRAG) has updated its Voluntary Standard (VS) Digital Template and associated Extensible Business Reporting Language (XBRL) taxonomy and converter. The tools now reflect the standard adopted by the European Commission in July 2026 and published in the Official Journal in September 2026, supporting the transition from the earlier recommendation on voluntary sustainability reporting by small and medium-sized enterprises. Users can upload a previous reporting period’s template to compare numerical disclosures and use Word (DOCX) files for formatted narratives. A new merge function combines VS Inline XBRL reports with PDF documents, allowing other disclosures, such as financial statements, to form part of one document set. Customisation options now include footnotes for individual disclosures and introductory text. The release is available in 11 languages, with further translations to follow as reviews are completed. All materials carry an open source license permitting providers to reuse the code in commercial solutions.
European Financial Reporting Advisory Group updates Voluntary Standard reporting tools in 11 languages
The European Financial Reporting Advisory Group has updated its Voluntary Standard digital reporting tools to reflect changes from the earlier SME reporting recommendation. New functions enable comparisons with the previous reporting period, formatted Word narratives and merging digital reports with PDFs. The release is available in 11 languages under an open source license allowing commercial reuse of the code.