EFRAG has released an updated version of its Voluntary Standard (VS) Digital Template, aligned with the latest European Voluntary Standard framework for non-listed small and medium-sized enterprises.
The release updates the digital template, XBRL taxonomy, and digital converter tool to reflect the final technical amendments adopted in July 2026 and published in the Official Journal of the European Union by the European Commission in September 2026. The materials are distributed under an open-source licence, allowing commercial software vendors to integrate the underlying codebase directly into corporate reporting platforms.
The updated digital infrastructure introduces features designed to streamline data entry, enable comparative performance tracking, and support multi-language reporting across European jurisdictions.
Key technical, functional, and regulatory updates include:
- Comparative reporting engine: Enables side-by-side numerical comparison against prior reporting periods by importing historical digital template datasets.
- Formatted narrative inputs: Integrates Word (DOCX) file support for qualitative disclosures, offering flexibility for structured narrative sections.
- Document merging capabilities: Adds a merge function to combine VS Inline XBRL reports with secondary PDF documentation, such as EMAS environmental disclosures or formal financial statements.
- Multi-language rollout: Released in 11 official European languages, with ongoing translations managed alongside National Standard Setters and the World Bank Group’s Centre for Financial Reporting Reform (CFRR).
- Enhanced data customisation: Supports itemised footnotes per disclosure section alongside flexible introductory narrative blocks.
Kristian Koktvedgaard, Acting Chair of EFRAG’s Sustainability Reporting Board (SRB), stated that updating the digital tools provides undertakings with accessible frameworks for standardized ESG disclosures.
Koktvedgaard added that expanding language support and digital filing options will accelerate voluntary standard adoption among private enterprises across Europe and international markets.
EFRAG confirmed that all updated digital assets, taxonomy files, and conversion tools are accessible via its digital portal and Knowledge Hub repository.
