IASB proposes updates to the IFRS Accounting Taxonomy 2023

IASB proposes updates to the IFRS Accounting Taxonomy 2023

The IASB has published a proposed update to the IFRS Accounting Taxonomy 2023 to reflect recent amendments to the following IFRS Accounting Standards:
  • International Tax Reform—Pillar Two Model Rules, which amended IAS 12 Income Taxes and was issued in May 2023;
  • International Tax Reform—Pillar Two Model Rules, which amended Section 29 of the IFRS for SMEs Standard and was issued in September 2023;
  • Supplier Finance Arrangements, which amended IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures and was issued in May 2023; and
  • Lack of Exchangeability, which amended IAS 21 The Effects of Changes in Foreign Exchange Rates and was issued in August 2023.
Comments may be submitted by 4 December 2023.
The proposed update may be accessed here.