Single Format – XBRL: Updated Requirements for the Procedure of Financial Reporting Submission Approved

At its meeting on September 19, the NSSMc approved a Resolution on Changes to the Procedure for Submitting Financial Statements. These changes will take effect on November 1, 2025.

The draft document had been previously published for discussion with professional market participants. All proposals were carefully reviewed, and most of them were taken into account.

The approval of the Resolution was preceded by extensive preparatory work on amending the NSSMC regulations, including within the framework of the Committee on Financial Monitoring and Financial Reporting Control. As a result of this work, the document received broad support from representatives of the Ukrainian Investment Business Association, the Public Oversight Body for Auditing, the Audit Chamber of Ukraine, the Association for Finance and Investment Management, the Ukrainian Energy Exchange, the Ukrainian Trading Platform, and other capital market participants.

It should be recalled that the document abolishes the requirement to submit financial statements in XML format and establishes a single mandatory format: financial statements under international standards will be submitted exclusively in XBRL format through the Financial Reporting Collection Center (FRCC).

The NSSMC has previously communicated in detail about the necessity and purpose of these changes.

The document is available at the following link.

The NSSMC aims to make the reporting submission process uniform, convenient, and transparent for every market participant, and the introduced changes will contribute to this goal.