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The International Accounting Standards Board (Board) has today issued an update to the IFRS Taxonomy 2020 to reflect Interest Rate Benchmark Reform—Phase 2, issued in August 2020, which amended IFRS 9 Financial Instruments, IAS 39 Financial Instruments: Recognition and Measurement, IFRS 7 Financial Instruments: Disclosures, IFRS 4 Insurance Contracts and IFRS 16 Leases.
IFRS Taxonomy 2020—Update 2 Interest Rate Benchmark Reform—Phase 2 includes IFRS Taxonomy elements to reflect the new disclosure requirements introduced by the amendments issued by the Board in August 2020.
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