Draft 2024 Taxonomy Suite Published

Draft 2024 Taxonomy Suite Published

By Prathamesh 14 August, 2023

The FRC has published a draft version of the 2024 Taxonomy Suite.

The consultation is open to public comment for two months until Friday 6 October, and responses can be sent through Yeti or via email to xbrl@frc.org.uk.

The FRC is aiming to release the final version of the Taxonomy Suite in October 2023, together with a feedback statement.

Key changes to the 2024 Taxonomy Suite:

  • – Tags have been updated and added to enable UKEB endorsed 2021 Narrow-scope amendments and Lease Liability in a Sale and Leaseback (Amendment to IFRS 16), and International Tax Reform—Pillar Two Model Rules (Proposed amendments to IAS 12)/Amendments to FRS 102.
  • – SECR tags units have been updated to use ghgEmissionsItemType.
  • – The Original and Revised Data dimension labels have been updated, and guidance tags created, to clarify the meaning of these terms in the taxonomy.
  • – Recommendations on high quality disclosures of Expected Credit Losses have been digitised. Some pre-existing tags have been updated, and new tags have been created to enable preparers to tag with the granularity described in the recommendations.
  • – The Charities extension has been updated.
  • – The Irish extension has not been updated; there will not be a new Irish extension for 2024.

To find out more details please visit : https://www.frc.org.uk/