Draft IFRS 2023 taxonomy update and comment letters

On 6 November 2023, the IFRS Foundation published the accounting taxonomy IFRS 2023 - Proposed Update 2 for public consultation. Common practices for financial instruments, general improvements and technological updates.

This proposed update includes :

• a review of the current practices of the extensions relating to the presentation of financial instruments in the numerical financial statements prepared by banking institutions in accordance with IFRS accounting standards ;
• general improvements to support high-quality tagging of financial information, including proposed changes to the tagging of the reconciliation of property, plant and equipment, including rights-of-use assets, and the introduction of categorical items in the IFRS accounting taxonomy; and
• changes to IFRS accounting taxonomy technology.

The deadline for submitting comments is 5 January 2024.

For more details, see the link below

https://www.ifrs.org/projects/work-plan/ifrs-accounting-tu-cp-fi-gi/tu-cp-fi-gi-ptu-comment-letters/