IFRS Taxonomy

 

The IFRS Taxonomy improves communication between preparers and users of financial statements that comply with IFRS Standards. Preparers can use the IFRS Taxonomy's elements to tag required disclosures, making them more easily accessible to users of electronic reports.

The IFRS Taxonomy reflects the presentation and disclosure requirements of IFRS Standards and includes elements from the accompanying materials to the IFRS Standards such as implementation guidance and illustrative examples. In addition, it contains elements for disclosures not specifically required by IFRS Standards but commonly reported in practice.

Updates to the IFRS Taxonomy are released when the International Accounting Standards Board (Board) issues new or amended Standards that affect IFRS Taxonomy content. Updates may also be released after an analysis of disclosures commonly reported in practice or to reflect improvements to the IFRS Taxonomy's general content or technology.  IFRS Taxonomy updates are subject to public consultation.

The annual IFRS Taxonomy is a compilation of updates to the IFRS Taxonomy published throughout the year. The IFRS Foundation usually publishes the annual IFRS Taxonomy in the first quarter of each year.

The Foundation also publishes educational guides and supporting material to aid understanding and use of the IFRS Taxonomy.

The IFRS Taxonomy Consultative Group reviews updates to the IFRS Taxonomy prior to public consultation and provides advice on IFRS Taxonomy-related issues.

Process

The annual IFRS Taxonomy is a compilation of updates to the IFRS Taxonomy published throughout the year. The IFRS Foundation usually publishes the annual IFRS Taxonomy in the first quarter of each year.

The annual IFRS Taxonomy is provided in English. Subsequent to its release, the IFRS Foundation publishes translations of the annual IFRS Taxonomy in other languages. A list of available translations can be found using the link below. Translations facilitate the consistent use and implementation of the IFRS Taxonomy around the world.

Access the annual IFRS Taxonomy

The eXtensible Business Reporting Language (XBRL) is used to represent and deliver the annual IFRS Taxonomy content. The technical IFRS Taxonomy files can be downloaded and viewed with XBRL-enabled software and tools.

The following links provide access to the XBRL files, versioning information (documentation detailing the changes between two taxonomies) and element documentation labels in Excel.

The IFRS Foundation provides two other ways to browse IFRS Taxonomy's content, which are available under the General Resources tab.

  • the IFRS Taxonomy Illustrated (displays content in both HTML and PDF); and
  • xIFRS (the electronic IFRS Standards with embedded IFRS Taxonomy elements).

 

IFRS Taxonomy translations

 

IFRS Taxonomy updates

The annual IFRS Taxonomy is a compilation of updates to the IFRS Taxonomy published throughout the year. Updates to the IFRS Taxonomy are released when the Board issues new or amended Standards that affect the IFRS Taxonomy's content. Updates may also be released after analysis of disclosures commonly reported in practice, general improvements or technology updates. IFRS Taxonomy updates are subject to public consultation.

The publications Guide to Understanding the IFRS® Taxonomy Update and Using the IFRS Taxonomy: Guide to Common Practice Content will help readers make informed contributions to the IFRS Taxonomy consultation process. More supporting material can be found in the General resources tab.

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