2008 IFRS Taxonomy Released
The International Accounting Standards Committee (IASC) Foundation released the
IFRS Taxonomy 2008. The new taxonomy is a complete translation of International Financial Reporting Standards (IFRS) into XBRL, an eXtensible Markup Language (XML) that is used to communicate information between businesses. The IFRS Taxonomy 2008 represents a complete review of past taxonomies and is also the first taxonomy to undergo an extensive external review by the XBRL Quality Review Team, which comprises experts from the preparer community, securities regulators, central banks, financial institutions and software companies.
