Summary of the ITCG February 2015 meeting

  • ITCG meeting (mid blue) Image

03 Mar 2015

The IASB has issued its meeting notes on the IFRS Taxonomy Consultative Group's (ITCG) meeting held on 11 February 2015.

Topics discussed were:

  • Exposure Draft Disclosure Initiative (Proposed Amendments to IAS 7)
    ITCG members were pre­sen­ted with an update on the exposure draft, which includes the proposed IFRS Taxonomy Update as accompanying material.
  • Approaches for a potential 2015/2016 Common Practice project
    The staff sum­marised its research on potential approaches to determine the scope of a 2015/2016 Common Practice project and presented a combined approach consisting of “an empirical review focussing on the disclosures of specific activities” and a review of the disclosures in Standards with upcoming IASB post-implementation reviews during 2015/2016. In general, the ITCG agreed with the staff’s combined approach.
  • Terms and conditions of using the IFRS Taxonomy
    A description of the changes to the IFRS Taxonomy’s terms and conditions was presented to the ITCG. These changes are expected to be implemented around the same time as the issuance of the 2015 IFRS Taxonomy.

For more information, see the meeting notes on the IASB’s website.

Correction list for hyphenation

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