source: https://www.knf.gov.pl/knf/pl/komponenty/img/QA_on_ESEF_wersja_polska_67001.pdf (translation)

Will the costs related to the preparation of reports increase?

The implementation of a new structured reporting format, especially in the area of tagging consolidated financial statements in line with IFRS using the iXBRL specification, may initially entail a low cost for companies. The costs will largely depend on whether the company chooses to prepare its annual financial reports using the iXBRL standard in-house or whether to outsource it:

• In the case of self-reporting, it is estimated (2) that the implementation costs per company related to the preparation of the first annual report in the new format would amount to approximately EUR 8,200 on average, and the costs related to the preparation of subsequent annual reports would amount to approximately EUR 2,400 EUR;
• In the case of outsourcing, the costs related to the preparation of the first annual report in the new format per company would amount to approximately EUR 13,000 on average, and the costs related to the preparation of subsequent annual reports would amount to approximately EUR 4,600.

 

In any case, initial costs will decrease significantly after the first reporting year (3). The creation of special software is to help companies to standardize and automate the process of preparing annual financial reports in accordance with the ESEF format.

(2) ESMA —Feedback Statement on the Consultation Paper on the Regulatory Technical Standard on the European Single Electronic Format (ESEF), 21 December 2016. 
(3) As stated by ESMA, but also as shown by the results of the AICPA study on reporting costs using XBRL.