Hot on the heels of announcements from the European regulator, ESMA and the US regulator, the SEC, that IFRS disclosures will shortly need to be made digitally, the IASB announced yesterday that the 2017 IFRS Taxonomy is available, representing the IFRS accounting standards as they stand on 1 January 2017. The IFRS taxonomy has been […]
On 28 February the SEC announced that it will now accept financial statement filings from international companies listed in the US in XBRL or iXBRL format using the IFRS taxonomy. From December it will be obligatory.
Korean Language Labels for the IFRS Taxonomy are now available. XBRL taxonomies are modular definitions that can include labels in many different languages. This capability allows the automatic translation of disclosed reporting captions from the original language of the preparer to any or all target languages for which those labels have been developed. Official translations […]
The IFRS Foundation is seeking public comment on its most recent proposed update to the IFRS Taxonomy 2016—Common Practice.
The latest version of the IFRS TAxonomy 2016 has been released, incorporating elements for Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts (Amendments to IFRS 4)
The FY2015 financial statements from the IFRS Foundation are available as XBRL instance documents, containing statements of comprehensive income, financial position, cash flows and notes to the financial statements. The financial statements can be downloaded as XBRL and the statements can also be viewed in an XHTML-compliant web browser as Inline XBRL. Click here to view […]
Translations like these help promote IFRS adoption, which continues to grow around the world. It also means that one of the basic capabilities of XBRL is enabled in one of the world’s most important taxonomies.
In a speech setting out priorities for his second term, IASB Chair Hans Hoogervorst outlined plans to prioritise improvements to the communications of financial statements. Of particular interest to the XBRL community will be the continuation of the Disclosure Initiative, along with a focus on digital reporting and non-financial reporting. You can read Hoogervorst’s speech here.
The latest version of the IASB’s Due Process Handbook includes some important changes regarding procedures for the development and maintenance of the IFRS Taxonomy. These are significant governance developments and reflect the growing importance of structured data disclosure in financial reporting worldwide. The Board itself will now have the responsibility to review and approve core IFRS […]
Read about an update on how the IFRS Taxonomy is being used for securities regulation and where digital reporting the UK might be headed.