LIBOR Update to IFRS Taxonomy Proposed
Following the recent update to the IFRS standards in advance of the transition away from discredited interest rate benchmarks such as LIBOR, the IASB have proposed corresponding updates to the IFRS Taxonomy 2019.
The Proposed IFRS Taxonomy updates include new elements that reflect the disclosure requirements introduced by the recent amendments to IFRS 9, IAS 39 and IFRS 7, issued by the Board in September 2019.
Comments and feedback are welcome until 13 December 2019.
Read the proposed update here.