IFRS taxonomy

On 17 March 2020, the IFRS Foundation published the IFRS Taxonomy 2020, which translates IFRSs into XBRL (eXtensible Business Reporting Language).

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30 June 2020

The IFRS taxonomy 2020 reflects the standards as published by the IASB at 1 January 2020, including those that are published but have not yet come into force.

Readers will note the importance of this taxonomy for European issuers, who have been required since 1 January 2020 to tag the consolidated IFRS accounts published in their annual financial reporting using iXBRL language. The taxonomy to be used (published by ESMA) is broadly inspired by the IASB taxonomy and is regularly updated to track the changes in the IFRS taxonomy.