IASB proposes update to IFRS Taxonomy 2021
Apr 21, 2021
On April 21, 2021, the International Accounting Standards Board (IASB) issued a proposed IFRS Taxonomy Update, "IFRS Taxonomy 2021 Proposed Update 1 — Disclosure of Accounting Policies and Definition of Accounting Estimates". Comments are request by by June 21, 2021.
The proposed taxonomy update includes changes to elements to reflect new and amended disclosure requirements in Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) and Definition of Accounting Estimates (Amendments to IAS 8).
Review the press release and proposed taxonomy update on the IASB’s website.