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The IFRS Foundation has today published the IFRS Taxonomy 2019. It includes changes resulting from a common practice update and a general improvement update to the IFRS Taxonomy 2018.
The IFRS Taxonomy facilitates electronic reporting of financial information prepared in accordance with IFRS Standards. Preparers can use the IFRS Taxonomy to tag disclosures, making them more easily accessible to investors who prefer to receive their financial information electronically.
The IFRS Taxonomy 2019 compiles changes resulting from two final updates to the IFRS Taxonomy 2018, which are also published today:
- IFRS Taxonomy 2018—Update 1 Common Practice (IFRS 13 Fair Value Measurement). This update includes new elements and an enhanced taxonomy model that better reflect information companies commonly disclose about fair value measurement.
- IFRS Taxonomy 2018—Update 2 General Improvements. This update includes changes designed to improve the quality of data tagged using the IFRS Taxonomy and to make it easier to navigate the IFRS Taxonomy.
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