IFRS Taxonomy Update—2017 Annual Improvements
Nov 30, 2017
On November 30, 2017, the International Accounting Standards Board's (IASB) IFRS Foundation published a Proposed IFRS Taxonomy Update to reflect changes to the IFRS Taxonomy 2017 resulting from annual improvements. The comment deadline is January 29, 2018.
The Proposed IFRS Taxonomy Update proposes a number of improvements to the IFRS Taxonomy 2017, including:
- enhancements to the data model to support consistent tagging of reporting related to continuing and discontinued operations;
- changes to better reflect the disaggregation of disclosures in IAS 19 Employee Benefits; and
- changes to better reflect disclosures in IFRS 7 Financial Instruments: Disclosures relating to the initial application of IFRS 9 Financial Instruments.
Review the press release and proposed update on the IASB's website.