Ann Tarca, who has been on the International Accounting Standards Board since 2017, provided some insights into the Foundation’s work and future plans around the IFRS Taxonomy during a recent interview with Toppan Merrill’s Dimensions.
The Sustainability Accounting Standards Board’s (SASB’s) standards have long helped facilitate the analysis of comparable, consistent, and reliable sustainability data by providing a common language for disclosing sustainability information. Until now, the standards have lacked an accompanying taxonomy.
Taxonomies are at the heart of any XBRL implementation and are used by a wide range of stakeholders such as preparers, software vendors, collectors, and consumers. Taxonomies need to be easily accessible, and XBRL International publishes guidance that provides best practice recommendation recommendations for publishing XBRL taxonomies.
Will the UK forge ahead with the European Single Electronic Format (ESEF) in January 2021, as originally planned? Or will the current consultation result in a delay, giving the country time to get its post-Brexit house in order?
The Deutsche Bundesbank has published an updated XBRL taxonomy (2.0) for reporting risk-bearing capacity.
Earlier this week the Securities and Exchange Commission (SEC) published the draft 2021 SEC Taxonomies for public review and comment.
In August the European Banking Authority (EBA) issued an erratum to the technical package for reporting framework 2.10 phase 2.
Extensible lists are a powerful XBRL feature that allow the selection of concepts from a pre-defined list.
XBRL US has published a guide for US regulators and US based industry experts looking to develop taxonomies that align with common practice in that country.
This week the IASB published two proposed updates to the IFRS 2020 Taxonomy to bring it in line with recent amendments to the IFRS Standards.
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