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SEC Updates International Financial Reporting Standards Taxonomy

The SEC updated the International Financial Reporting Standards Taxonomy 2018. The updates will affect common reporting practice for disclosure requirements in the IFRS, such as (i) "sensitivity of fair value measurement to changes in unobservable inputs" and (ii) quantitative information regarding significant unobservable inputs utilized in fair value measurement. Comments must be submitted by November 19, 2018.

Primary Sources

  1. SEC Announcement: IFRS Foundation Publishes Proposed Update to IFRS Taxonomy 2018 on IFRS 13 Common Practice
  2. IFRS: Proposed Taxonomy Update and Comment Letters—IFRS Taxonomy Update Common Practice (IFRS 13)

Related Articles

  • SEC Releases International Financial Reporting Standards Taxonomy

    The SEC announced that the International Financial Reporting Standards Taxonomy is now available on the Commission's website. The new taxonomy allows foreign private issuers to submit their financial statements in eXtensible Business Reporting Language.

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Tags

Regulated Activities
Accounting and Audit
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
SEC