IFRS 2014 Taxonomy is Released

The new version of the IFRS Taxonomy has been released by the IFRS Foundation. It has been the subject of intense effort and also of particular study by the SEC in its efforts to reach the stage of approval of the that taxonomy. This version of the taxonomy addresses the new standards issued by the IASB and also many issues that have been raised by its users and others. For example, it includes new common practice concepts to reflect practices followed in particular industries, something that is badly needed. Also, it is based on a new architecture. More about this at the IFRS Foundation Website, where the taxonomy and related materials can also be downloaded.