24 November 2020

The IFRS Foundation proposes changes to the IFRS Taxonomy 2020 to support high-quality tagging of information related to employee benefits

The IFRS Foundation has today published IFRS Taxonomy 2020—Proposed Update 5 General Improvements and Common Practice—IAS 19 Employee Benefits.

The proposed changes aim to support the high-quality tagging of information disclosed about employee benefits in accordance with IAS 19 and include:

  • new elements reflecting common reporting practice—for example, new line items for disclosures related to the fair value of defined benefit plan assets, reconciliation of the net defined benefit liability, and disaggregation of related income and expense; and
  • new and amended labels to clarify the accounting meaning and intended use of some existing elements.

The deadline for submitting comments is 26 January 2021.

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