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On 3 November 2021, at COP26, the IFRS Foundation Trustees announced the creation of the International Sustainability Standards Board (ISSB).

The ISSB will deliver a global baseline of sustainability disclosures to meet capital market needs.

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IFRS Foundation publishes IFRS Taxonomy 2018

The IFRS Foundation has today published IFRS Taxonomy 2018, which includes a number of updates to the IFRS Taxonomy 2017.

The IFRS Taxonomy facilitates the electronic reporting of financial statements that comply with IFRS Standards. It reflects the presentation and disclosure requirements in IFRS Standards and the accompanying materials to IFRS Standards. The IFRS Taxonomy also includes elements for disclosures not specifically required by IFRS Standards that companies commonly report.

Updates to the IFRS Taxonomy are released during the year to reflect changes to IFRS Standards, common reporting practice by companies that apply IFRS Standards, general improvements to the IFRS Taxonomy or technology changes. The IFRS Taxonomy 2018 incorporates the IFRS Taxonomy Update for IFRS 17 Insurance Contracts published in January 2018.

The IFRS Foundation has also published today the IFRS Taxonomy Update—Annual Improvements and the IFRS Taxonomy Update—Prepayments Features with Negative Compensation (Amendments to IFRS 9). The IFRS Taxonomy 2018 incorporates the changes resulting from these two updates.

For the IFRS Taxonomy 2018 files and supporting information, please go to the IFRS Taxonomy 2018 page.

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