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IFRS Taxonomy Update for IFRS 17, Insurance Contracts [Completed]

Last updated:

January 2018

Overview

In May 2017, the IFRS Foundation published for public comment the proposed Taxonomy Update 1 to the IFRS Taxonomy 2017. This Proposed Taxonomy Update incorporates the IFRS Taxonomy elements for IFRS 17, Insurance Contracts, issued by the IASB in May 2017. 

Updates to the IFRS Taxonomy contain additional taxonomy concepts that reflect new Standards and amendments to Standards issued by the Board. They may also contain technical updates, new common practice elements or general taxonomy improvements.

In January 2018, the IFRS Taxonomy Update is issued and includes IFRS Taxonomy elements to reflect the new presentation and disclosure requirements introduced by IFRS 17 Insurance Contracts.

 

Other developments

January 2018

On January 11, 2018, the IFRS Foundation published IFRS Taxonomy update IFRS Taxonomy 2017 — IFRS 17 Insurance Contracts. This Taxonomy update includes elements to reflect the new presentation and disclosure requirements introduced by the recently-issued standard IFRS 17, Insurance Contracts.

December 2017

On December 18, 2017, the IASB staff updated the work plan to indicate that the IASB expects to issue the Final Taxonomy Update in January 2018. 

September 2017

On September 22, 2017, the IASB staff updated the work plan to indicate that the IASB expects to review the Proposed Update Feedback in December 2017.

June 2017

In June 2017, the IASB staff updated the work plan to indicate that the IASB expects to discuss the Exposure Draft feedback in Q4/2017.

May 2017

On May 18, 2017, the IFRS Foundation issued for public comment the proposed Taxonomy Update 1 to the IFRS Taxonomy 2017. It is open for comment until September 18, 2017.

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.