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.