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IFRS Accounting Standards are developed by the International Accounting Standards Board (IASB). The IASB is an independent standard-setting body within the IFRS Foundation.
IFRS Accounting Standards are, in effect, a global accounting language—companies in more than 140 jurisdictions are required to use them when reporting on their financial health. The IASB is supported by technical staff and a range of advisory bodies.
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IFRS Sustainability Disclosure Standards are developed by the International Sustainability Standards Board (ISSB). The ISSB is an independent standard-setting body within the IFRS Foundation.
IFRS Sustainability Standards are developed to enhance investor-company dialogue so that investors receive decision-useful, globally comparable sustainability-related disclosures that meet their information needs. The ISSB is supported by technical staff and a range of advisory bodies.
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04 June 2019
European Commission requires electronic tagging of financial statements using the IFRS Taxonomy
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The European Commission has announced that listed companies that prepare consolidated financial statements using IFRS Standards will be required to tag their primary financial statements using the IFRS Taxonomy for financial years starting on or after 1 January 2020. The requirement is part of the European Commission’s move to the European Single Electronic Format, an electronic format for EU annual financial reports introduced to support accessibility and transparency of financial information.
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IFRS Taxonomy
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