IFRS Foundation publishes second proposal related to IFRS Taxonomy 2015

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04 Aug, 2015

The IFRS Foundation has published 'Proposed Update 2 to the IFRS Taxonomy 2015 — Common Practice' for public comment.

The taxonomy updates contain additional taxonomy concepts that reflect new IFRSs and improvements to IFRSs, technical updates, and corrections. This update includes taxonomy elements for entities in the information technology, media, chemicals and utilities industries. The IFRS Foundation published Proposed Update 1 to the IFRS Taxonomy on 17 June 2015.

Comments on Updates 1 and 2 to the IFRS taxonomy are due by 17 August and 30 October 2015, respectively.

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

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