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IASB publishes Proposed Taxonomy Update

  • IFRS - IASB Image

Jul 16, 2020

On July 16, 2020, the IFRS Foundation published a Proposed Taxonomy Update, 'IFRS Taxonomy 2020 — 'Amendments to IFRS 17', 'Extension of the Temporary Exemption from Applying IFRS 9' and 'Property, Plant and Equipment — Proceeds before Intended Use''. Comments are requested by September 14, 2020.

The proposed update includes elements to reflect

  • amend­ments to the new and old insurance contracts Standard, IFRS 17 and IFRS 4, issued in June 2020; and
  • amend­ments to IAS 16 regarding proceeds before the intended use issued in May 2020.

For more in­for­ma­tion, see the press release and proposed update on the IASB’s website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.