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IASB: Proposed updates to IFRS Accounting Taxonomy 2025
- 22 July 2026
- Miscellaneous
- South African Accounting Academy
Summary:
The International Accounting Standards Board (IASB) has published a proposed update to the IFRS Accounting Taxonomy 2025, IFRS Accounting Taxonomy 2025—Proposed Update 2: IFRS 20 Regulatory Assets and Regulatory Liabilities, Translation to a Hyperinflationary Presentation Currency and Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures.
Article:
The update sets out proposed changes to the IFRS Accounting Taxonomy to support digital financial reporting of information prepared in accordance with 3 new and amended IFRS Accounting Standards:
- IFRS 20 Regulatory Assets and Regulatory Liabilities, which was issued in May 2026;
- Translation to a Hyperinflationary Presentation Currency, which amended IAS 21 The Effects of Changes in Foreign Exchange Rates and was issued in November 2025; and
- Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures, which was issued in August 2025.
The IASB has invited feedback from stakeholders involved in preparing, tagging or using digital financial reports.
The deadline for submitting comments is 14 September 2026.
Click here to download the 47-page document:
Relevance to Auditors, Independent Reviewers & Accountants:
- As an auditor and independent reviewer, you need to consider your clients’ compliance with accounting standards.
- Auditors, Independent Reviewers and Accountants should be aware of the latest publications and guidance issued by regulators and standard-setting boards, such as the IASB.
- As an accountant and compiler of financial statements, you need to consider amendments and proposed amendments to standards that are issued by the standard-setting bodies, e.g. IASB, IAASB, etc.
Relevance to Your clients:
- An entity compiling filing financials need to consider amendments and proposed amendments to standards that are issued by the standard-setting bodies, e.g. IASB, IAASB, etc.