IFRS Foundation publishes updates to the IFRS Accounting Taxonomy 2023

IFRS Foundation publishes updates to the IFRS Accounting Taxonomy 2023

The IFRS Foundation has published IFRS Accounting Taxonomy 2023—Proposed Update 2 Common Practice for Financial Instruments, General Improvements and Technology Update.
The proposed update includes proposed changes to the IFRS Accounting Taxonomy to reflect:
  • common reporting practice relating to the presentation of financial instruments in digital financial statements prepared by banking institutions using IFRS Accounting Standards; 
  • general improvements; and
  • updates to the IFRS Accounting Taxonomy’s technology.
Comments on the proposed update may be submitted by 5 January 2024.
The proposed updates may be accessed here.