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Final Stage

In March 2024, the IFRS Foundation issued IFRS Accounting Taxonomy 2023—Update 2 Common Practice for Financial Instruments, General Improvements and Technology Update.

The Update includes:

  • a common practice review of extensions relating to the presentation of financial instruments in digital financial statements prepared by banking institutions using IFRS Accounting Standards;
  • general improvements to support the high-quality tagging of financial information, including proposed changes to the tagging of reconciliation of property, plant and equipment, including right-of-use assets and the introduction of categorical elements to the IFRS Accounting Taxonomy; and
  • changes to the IFRS Accounting Taxonomy’s technology.

The IFRS Accounting Taxonomy 2024 incorporates the changes resulting from this Update. The final XBRL files and supporting materials are available on the IFRS Accounting Taxonomy 2024 page.