NSSMC approved requirements for financial reporting in XBRL format

The Commission continues to improve the financial reporting process. As previously reported, starting in 2026, the Regulator plans to fully transition to the use of market participants’ reports exclusively in XBRL format, submitted through the Collection Center.

Another important step in this direction was the NSSMC Resolution “On Approval of Requirements for Disclosure of Financial Statements in XBRL Format for Reporting Entities that are Capital Market Participants and Professional Participants of Organized Commodity Markets.”

The document was registered by the Ministry of Justice on 20 June 2025, under No. 958/44364, and has entered into force.

Its purpose is to regulate the following issues:
– specifying the procedure for reporting entities to ensure compliance with the requirements of the legislation on the submission of financial statements and consolidated financial statements to the Collection Center;

– specifying the procedure for Commission employees to ensure the administration of financial reporting processes in XBRL format and electronic user accounts in the FRCC.

– determining the status of financial statements submitted to the Collection Center as those submitted to the NSSMC;

– making it mandatory to use the UA IFRS XBRL electronic taxonomy file for reporting in accordance with international standards;

– setting up requirements for the disclosure of certain financial reporting indicators in accordance with international standards.

The full version of the NSSMC Resolution is available following the link.

This Commission document is binding on reporting entities whose activities are regulated by the NSSMC.

The Commission also does not rule out the possibility of expanding in the future the list of requirements for disclosure of financial reporting indicators.

This is another step towards providing investors with convenient access to high-quality, audited financial statements that comply with best international practices.