Electronic financial reporting in the Czech Republic: an empirical analysis of ESEF implementation

Elektronické účetní výkaznictví v České republice: empirická analýza implementace ESEF

Oto Křivanec

Český finanční a účetní časopis, 2022, vol. 2022, issue 2, 51-68

Abstract: The article examines how issuers of publicly traded securities comply with the EU Regulation on the European Single Electronic Format (ESEF) and related rules of the Czech National Bank. Based on a set of criteria, the paper empirically assesses the degree of formal compliance with the electronic disclosure obligations in a sample of Czech issuers. The analysis of data for the year 2020 reveals that issuers that are part of economic units for which consolidated financial statements are prepared in accordance with IFRS comply with formal disclosure obligations to a greater extent than issuers that prepare only individual financial statements in accordance with IFRS. Furthermore, a higher compliance rate was found for issuers belonging to the financial sector compared to entities outside the financial sector. Finally, audits of financial statements by big audit firms are associated with slightly higher compliance rates compared to issuers that have their financial statements audited by a non-"Big 4" auditor.

Keywords: XBRL; ESEF; Financial statements; Účetní závěrka (search for similar items in EconPapers)
JEL-codes: M41 O33 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.18267/j.cfuc.577

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