IFRS Taxonomy 2016 Update for Disclosure Initiative (Amendments to IAS 7)

 28 April 2016

The IFRS Foundation published today the Taxonomy Update 1 to the IFRS Taxonomy 2016.

IFRS Taxonomy updates contain additional taxonomy concepts that reflect new Standards and amendments to Standards issued by the IASB.

The Taxonomy Update 1 incorporates the IFRS Taxonomy elements for:

The Disclosure Initiative is a portfolio of projects that are being undertaken by the IASB with the aim of improving the effectiveness of disclosures in financial statements.

The Taxonomy changes resulting from this Update are final. The public consultation took place at the IASB Exposure Draft stage.

View and download the Update here.