[Global Financial Insights] IAASB Invites Stakeholder’s Comment on the Proposed Update to IFRS Accounting Taxonomy 2024

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By Taxmann
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Last Updated on 6 September, 2024

Global Financial Insights is a weekly feature for the Accounts and Audit Module subscribers of Taxmann.com. It provides you with the latest updates on financial reporting and auditing practices from across the globe. Here is this week’s financial update.

1. IASB invites stakeholder’s comment on the proposed update to IFRS Accounting Taxonomy 2024

The International Accounting Standard Board (IASB) has proposed certain updates with respect to the “IFRS Accounting Taxonomy 2024”. ”. The proposed update relates to the following:

a) IFRS 19 Subsidiaries without Public Accountability: Disclosures, which was issued in May 2024

b) Amendments to the Classification and Measurement of Financial Instruments, which amended IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures and was issued in May 2024

c) Annual Improvements to IFRS Accounting Standards—Volume 11, which was issued in July 2024.

To understand these proposed updates in details

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