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IFRS Foundation Publishes Preparer's Guide for Using the IFRS Taxonomy

The IFRS Foundation has published a guide for companies using the IFRS Taxonomy: The IFRS Foundation’s Preparer's Guide is designed for preparers that already have a reasonable knowledge of the IFRS Standards, but without detailed knowledge of  eXtensible Business Reporting Language (XBRL). The Preparer’s Guide explains how to tag information in financial statements prepared in accordance with IFRS Standards and helps companies to understand the IFRS Taxonomy content. Additional supporting and educational materials to aid understanding and use of the IFRS Taxonomy are provided on the IFRS Foundation website:

In addition, foreign private issuers that submit their financial statements in XBRL to the SEC can review resources on the SEC website.  

  • Interactive Data Rules: Require foreign private issuers that prepare their financial statements using International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) to provide their financial statements to the Commission in interactive data format using the eXtensible Business Reporting Language (XBRL).
  • Notice that the IFRS Taxonomy is available for foreign private issuers to submit their financial statements in XBRL.
  • EDGAR Filer Manual: Foreign private issuers that submit their financial statements in XBRL to the SEC must prepare electronic filings in the manner prescribed by the EDGAR Filer Manual, promulgated by the Commission, which sets forth the technical formatting requirements for electronic submissions.
  • IFRS Taxonomy FAQs: These FAQs address common questions foreign private issuers may have when using the IFRS Taxonomy for XBRL submissions to the SEC.
  • Interactive Data FAQs: Interpretations and FAQs by the staff of the Division of Economic and Risk Analysis to help filers understand how to comply with the Commission's interactive data disclosure rules.
  • Interactive Data Compliance and Disclosure Interpretations: Views of the staff of the Division of Corporation Finance intended as general guidance on the Interactive Data Rules.
  • Standard Taxonomies webpage: Listing of XBRL schemas and linkbases of standard taxonomies that are supported for the Commission's Interactive Data programs, including the IFRS Taxonomy.

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