IFRS Foundation proposes further updates to IFRS Taxonomy 2023
06 Nov, 2023
The IFRS Foundation has issued a proposed IFRS Taxonomy Update, 'IFRS Accounting Taxonomy 2023 — Proposed Update 2 'Common Practice for Financial Instruments, General Improvements and Technology Update''.
The proposed changes reflect:
- common reporting practice relating to the presentation of financial instruments in digital financial statements prepared by banking institutions using IFRS Accounting Standards;
- general improvements; and
- updates to the IFRS Accounting Taxonomy’s technology.
Details on the proposed changes are available in the press release on the IFRS Foundation website and in proposed update itself. Comments are requested by 5 January 2024.
