IFRS to publish proposed update on general improvements to the IFRS Taxonomy
Released 03 December 2018
The International Financial Reporting Standards (IFRS) Foundation is to publish a Proposed IFRS Taxonomy Update on 6 December 2018.
The IFRS Taxonomy reflects the presentation and disclosure requirements of IFRS Standards and includes elements from the accompanying materials to the IFRS Standards such as implementation guidance and illustrative examples. In addition, it contains elements for disclosures not specifically required by IFRS Standards but commonly reported in practice. Preparers can use the IFRS Taxonomy's elements to tag required disclosures, making them more easily accessible to users of electronic reports. This proposed update will include proposed changes to the IFRS Taxonomy 2018, to improve the quality of data reported using the IFRS Taxonomy and to make it easier to access and use the IFRS Taxonomy.
For more information, see IFRS Foundation to publish proposed update on general improvements to the IFRS Taxonomy.