Welcome to the website of the IFRS Foundation and the IASB

Friday 25 April 2014

Banner graphic

The IASB XBRL initiative


  

The goal of the IFRS Foundation is to provide the world's integrating capital markets with a common language for financial reporting.  XBRL was developed to provide a common, electronic format for business and financial reporting. 

Because both IFRSs and XBRL are intended to standardise financial reporting in order to promote transparency and to improve the quality and comparability of business information, the two form a perfect partnership.

The IASB XBRL initiative was launched in 2001 when the IFRS Foundation recognised the potential impact that XBRL could have on financial reporting.  The Foundation also realised that if XBRL were applied in conjunction with IFRSs, it could improve access for users to financial information and could also support IFRS adoption and implementation.

For more information about XBRL and how it works, please click here.

  

The IASB XBRL Team

The IASB XBRL Team is responsible for developing and maintaining the XBRL representations of the IFRSs, known as the IFRS Taxonomy. The IFRS Taxonomy is used around the world to facilitate the electronic use and exchange of financial data prepared in accordance with IFRSs.

The mission of the IFRS Foundation XBRL Team is to: create and provide a framework for the consistent adoption and implementation of IFRSs with a high-quality IFRS Taxonomy in the same languages and at the same time as the IFRSs. This mission is part of the adoption and implementation strategy of the IFRS Foundation and is integrated with the development of IFRSs.

Read more

XBRL governance at the IFRS Foundation is illustrated below:

 





Related information

Click here for more IFRS XBRL information

Click here for the IFRS Taxonomy

Click here for the IFRS Foundation's XBRL due process

Contacts Us

IFRS Foundation XBRL Team 
email: xbrl@ifrs.org