17 December 2020

IASB issues IFRS Taxonomy Update for Interest Rate Benchmark Reform—Phase 2

The International Accounting Standards Board (Board) has today issued an update to the IFRS Taxonomy 2020 to reflect Interest Rate Benchmark Reform—Phase 2, issued in August 2020, which amended IFRS 9 Financial Instruments, IAS 39 Financial Instruments: Recognition and Measurement, IFRS 7 Financial Instruments: Disclosures, IFRS 4 Insurance Contracts and IFRS 16 Leases.

IFRS Taxonomy 2020—Update 2 Interest Rate Benchmark Reform—Phase 2 includes IFRS Taxonomy elements to reflect the new disclosure requirements introduced by the amendments issued by the Board in August 2020.

For the IFRS Taxonomy Update and the IFRS Taxonomy files in XBRL, please go to the published documents tab of the project page; for the IFRS Taxonomy Illustrated and versioning information, please go to the supporting material tab.

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