This proposed update incorporates the IFRS Taxonomy elements for applying IFRS 17 Insurance Contracts. The IFRS Foundation is seeking comment on this Taxonomy update with the comment period remaining open until 18 September 2017. Further information and supporting materials can be found here.
The IFRS Foundation this week published a new webinar on its Disclosure Initiative. This is a broad-ranging project examining the purpose and effectiveness of disclosure requirements as well as the problems that currently exist in financial disclosures. The webcast covers: the background and objective of the Principles of Disclosure project; disclosure issues identified by the Board; […]
The International Accounting Standards Board is currently seeking applications for membership of the IFRS Taxonomy Consultative Group to fill two open positions. The IFRS Taxonomy Consultative Group contributes to the development of the IFRS Taxonomy by providing technical advice to the Board on taxonomy related issues. Candidates are expected to have taxonomy-related expertise or skills. […]
Last week, the Saudi Stock Exchange (Tadawul) announced an upgrade in its disclosure system to comply with IFRS standards, including the use of the IFRS taxonomy. The changes will allow the publication of XBRL formatted financial results under IFRS. Tadawul will hold a number of awareness workshops for listed companies in Riyadh, Jeddah and Khobar […]
On Tuesday 28 March, the IFRS Taxonomy team held a live webinar on the IFRS Taxonomy 2017, featuring IASB member Gary Kabureck. Play back the recorded version of the webinar and access the IFRS Taxonomy 2017 and its supporting materials here.
Accelerating the modernisation of securities regulation in the Gulf region, Kuwait’s Capital Markets Authority recently announced details of its soon to be released XBRL reporting platform.
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.