Due Process Handbooks
IASB and IFRS Interpretations Committee
The IFRS Taxonomy
The XBRL Due Process Handbook describes the due process for the IFRS Taxonomy. It was approved by Trustees on 7 October 2009. In January 2014, the DPOC approved two interim amendments which were subsequently implemented. The XBRL Due Process Handbook does not reflect these amendments as other aspects of the IFRS Taxonomy due process are still under review.
At the July 2014 meeting the DPOC agreed that the IASB should hold two trials to better assess the staff proposals to amend the IFRS Taxonomy due process.
The first trial related to the staff proposal to publish Proposed Taxonomy Updates for new or amended IFRSs at the same time as the associated IFRS Exposure Draft is issued. The Exposure Draft Disclosure Initiative (proposed amendments to IAS 7) published by the International Accounting Standards Board (IASB) on 18 December was selected for this trial, so this Exposure Draft includes proposed changes to the IFRS Taxonomy. The IASB plans to assess the form, content and timing of the proposed IFRS Taxonomy Update on the basis of feedback received on both the Exposure Draft as a whole and on the changes proposed for the IFRS Taxonomy.
The second trial relates to the due process for IFRS Taxonomy common practice content. The staff are currently assessing the most appropriate level of engagement of the IASB.