IASB Launches XBRL Industry Practice Project
The IASB XBRL team is re-establishing a project to examine and develop common industry practice concepts for the IFRS taxonomy. The team is looking to work directly with companies representing a variety of industries and regions in order to increase comparability, decrease the number of XBRL extensions, and reduce the burden on preparers. The process will be conducted by a joint programme of empirical analysis and interaction with industry representatives and will focus on pharmaceuticals, real estate, telecommunications and transport. Read more.