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Final stage

In March 2021, the IFRS Foundation issued IFRS Taxonomy 2020—Update 5 General Improvements and Common Practice—IAS 19 Employee Benefits.

The Update introduces:

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