IFRS Foundation Consults on Improvements to the Accounting Taxonomy
The IFRS Foundation is seeking comments on a proposed update to the IFRS Accounting Taxonomy 2025 that would rationalise how narrative elements are structured and labelled. The deadline for comment is 7 September 2026.
The proposals in IASB/PTU/2026/1 will apply to the IFRS Accounting Taxonomy the same narrative element policy used in the IFRS Sustainability Disclosure Taxonomy. The policy reduces the number of distinct elements for disclosures to those that are clearly separable and identifiable in practice. Elements that fail that test — around 400 of them — would be deprecated and consolidated into broader concepts.
The other main proposal introduces clearer labelling conventions for text block elements, distinguishing between note, policy, table, and detailed text block types, along with improved parent–child relationships in the presentation linkbase to enhance navigation and discovery.
There are a few minor additions: some new categorical elements, a date-type correction for a share-based payment element, and five text elements upgraded to text blocks to better accommodate formatted content.
The deprecations will matter to anyone maintaining tagging tools, validation logic, or time-series data built on the existing element set. If that includes your organisation, it is worth reviewing the proposals carefully.
XBRL International encourages readers to read the proposal and submit views to the IFRS Foundation via ifrs.org/projects/open-for-comment by 7 September 2026.
