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IASB publishes proposed IFRS Taxonomy update

  • IASB (International Accounting Standards Board) (blue) Image
  • XBRL (eXtensible Business Reporting Language) (mid blue) Image

16 Jul 2020

The IASB has published PTU/2020/2 'IFRS Taxonomy 2020 — 'Amendments to IFRS 17', 'Extension of the Temporary Exemption from Applying IFRS 9' and 'Property, Plant and Equipment — Proceeds before Intended Use''.

The proposed update includes elements to reflect

  • amendments to the new and old insurance contracts Standard, IFRS 17 and IFRS 4, issued in June 2020; and
  • amendments to IAS 16 regarding proceeds before the intended use issued in May 2020.

For more information, see the press release and proposed update on the IASB’s website. Comments are requested by 14 September 2020.

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.