IASB Proposes Updates to IFRS Accounting Taxonomy 2023

IASB Proposes Updates to IFRS Accounting Taxonomy 2023

By Prathamesh 9 October, 2023

The International Accounting Standards Board (IASB) has published a proposed update to the IFRS Accounting Taxonomy 2023.

The update reflects recent amendments made to several IFRS Accounting Standards, including to International Tax Reform—Pillar Two Model Rules, Supplier Finance Arrangements, and Lack of Exchangeability. The update includes elements aimed at accommodating the new and revised disclosure requirements introduced through these amendments.

These updates are important for maintaining the relevancy and accuracy of the IFRS Accounting Taxonomy, ensuring it aligns with the latest changes to the standards.

This proposal invites comments and feedback, with the deadline for submissions set for 4 December.

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