IFRS taxonomy ready for use shortly

The final version of an IFRS taxonomy soon ready for use, according to IASB chair

Written by AccountancyAge.com

Gerrit Zalm, chairman of the foundation which oversees the International Accounting Standards Board, told the XBRL Conference yesterday, he was confident a final version of an International Financial Reporting Standards (IFRS) taxonomy would be ready for use shortly.

‘We believe that the provision of a taxonomy based on IFRSs will encourage adoption of IFRSs throughout the world and only enhance the benefits already being achieved through the adoption of IFRSs,’ he said.

Advertisement

Zalm said the progress made both in terms of IFRS and XBRL (extensible business-reporting language) were encouraging.

However, an ultimate success ‘is not guaranteed’, he warned. ‘Both organisations are addressing important issues of governance, which will be essential to ensure consistent application of our standards,’ he said.

Further reading:

XBRL: Emperor's new clothes?

Tags:

  • Have your say
  • Send to a friend
  • Share
  • Print

Comments

White papers

Related jobs

More Accounting jobs

Spotlight

Cutting Pompey to the bone

Portsmouth administrator andrew andronikou has his work cut out saving...

Tell it like it is

Professional service firms have a responsibility to practice what they...

Profile: Eric Anstee

The former chief executive of the ICAEW has plenty to...

More finance jobs

Search thousands of finance jobs:

Find your next job

Hiring now on AccountancyAgeJobs.com:

Your next job

Related finance jobs

Search thousands of finance jobs:

Find your next job

Newsletters

Sign up here for the very latest news delivered to your inbox. Choose from the following options:

Newsletters

Have your say

Following the PBR, who do you think should reside in No. 11?
Alistair Darling
George Osborne
Vince Cable

Advertisement

White papers

How to make better financial decisions - Free FD Handbook

When reviewing your business and accounting software, this free two- part guide explains all you need to know.

The Future of the Financial Close: Automating Account Reconciliations and Review

Many firms have made account reconciliation automation the focus of their drive. This paper describes why.

More white papers

Advertisement

White paper library

Keep up to date with the latest products, services and technologies from the world's leading IT companies; IThound.com brings you over 6,000 white papers, case studies and analyst reports.