This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IFRS® Taxonomy Update - Update for Annual Improvements to the IFRS Taxonomy 2017 [Completed]

Effective date:

The IFRS Taxonomy 2018 was published on March 16, 2018

Last up­dated:

March 2018

 

Overview

Annual Improvements are changes to the IFRS Taxonomy other than those resulting from changes to IFRS Standards and analysis of common reporting practice.

In November 2017, the IFRS Foun­da­tion pub­lished for pub­lic com­ment a Proposed IFRS Taxonomy Update to reflect changes to the IFRS Taxonomy 2017 resulting from annual improvements. Such annual improvements may include improvements to data models to support consistent tagging or improvements to better reflect presentation and disclosure requirements in IFRS Standards.

In March 2018, the IFRS Foundation published the IFRS Taxonomy Update — Annual Improvements and the IFRS Taxonomy Update — Prepayments Features with Negative Compensation (Amendments to IFRS 9). The IFRS Taxonomy 2018 incorporates the changes resulting from these two updates.

The following improvements have been made:

  • Enhanced data model for reporting relating to continuing and discontinued operations. These changes are to support consistent tagging.
  • Disclosures in IAS 19, Employee Benefits. These changes are intended to better reflect the disaggregation of the disclosures relating to defined benefit plans.
  • Initial application of IFRS 9, Financial Instruments. These changes are intended to better reflect the disclosure requirements in IFRS 7, Financial Instruments: Disclosures and align the modelling of those disclosures with similar disclosures in IFRS 17, Insurance Contracts.

 

Other de­vel­op­ments

March 2018

On March 16, 2018, the IFRS Foundation published the IFRS Taxonomy Update — Annual Improvements.

February 2018

On February 23, 2018, the IASB® staff updated the work plan to indicate that they expect to issue the final update to the IFRS Taxonomy in March 2018.

December 2017 

On December 18, 2017, the IASB staff updated the work plan to indicate that they expect to review the Proposed Taxonomy Update Feedback in February 2018. 

November 2017

On November 30, 2017, the IFRS Foun­da­tion pub­lished for pub­lic com­ment a Proposed IFRS Taxonomy Update to reflect changes to the IFRS Taxonomy 2017 resulting from annual improvements.

 

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.