The IFRS Foundation published proposed updates to its Accounting Taxonomy 2023, Common Practice for Financial Instruments, General Improvements and Technology Update, to support high-quality digital tagging.
The proposed changes, according to a news release, also reflect:
common reporting practice relating to the presentation of financial instruments in digital financial statements prepared by banking institutions using IFRS Accounting Standards;
general improvements; and
updates to the IFRS Accounting Taxonomy's technology.
The deadline for submitting comments is 5 January. Comments can be submitted