Consultation drafts of FRC Taxonomies
1 minute read
27 July 2026
The UK and Irish digital reporting taxonomies define elements for UK-adopted IFRS Accounting Standards endorsed by the UK Endorsement Board, EU-adopted IFRS Accounting Standards, UK and Ireland accounting standards issued by the FRC, such as FRS 101 Reduced Disclosure Framework, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, FRS 103 Insurance Contracts and FRS 105 The Financial Reporting Standard applicable to the Micro‑entities Regime. The taxonomies also incorporate International Standards on Auditing (UK) issued by the FRC and International Standards on Auditing (Ireland) issued by IAASA, and legislative requirements, such as the Companies Act, the Charities Act, SECR regulation. The FRC Taxonomy Suite also accommodates entry points for Community Interest Company Report (CIC 34) and Dormant Subsidiary Exempt Package (DSEP) accounts. The Charities taxonomy digitises disclosure requirements for the Charities Statement of Recommended Practice (SORP) issued by the Charities SORP-making body.
The UK and Irish digital reporting taxonomies include:
- The FRC Taxonomy Suite
- The Irish Taxonomy
- The Charities Taxonomy
The taxonomies are updated annually to reflect amendments in the standards and practical usage feedback. This regular annual update cycle ensures that the taxonomies remain fully aligned with all subsequent amendments to the underlying standards.
Key changes to the 2027 UK and Irish digital reporting taxonomies:
Respondents are strongly recommended to read the changelog.pdf file in the draft Taxonomy Suite zip folder download. This gives substantially more detail on the proposed changes for this year and supports the use of the Excel mapping files.
Taxonomies have been updated for
- IFRS 18 Presentation and Disclosure in Financial Statements
- FRS 103 Insurance Contracts
- Amendments to IFRS 9 and IFRS 7 – Contracts Referencing Nature-dependent Electricity
- Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland
- Annual Review of FRS 101 Reduced Disclosure Framework
- Amendments to ISA (UK) 700 and ISA (Ireland) 700
- ISA (UK) 701, ISA (UK) 720, ISA (Ireland) 701, and ISA (Ireland) 720
- Extend XII Countries Taxonomy
- Remove references to Charities SORP 2019
| Name | Draft 2027 UK and Irish digital reporting taxonomies |
|---|---|
| Publication date | 27 July 2026 |
| Format | ZIP, 19.8 MB |
The consultation is open to public comment for eight weeks until Sunday 20 September 2026, and responses can be sent through Yeti ( Guidance on how to use Yeti) or email to [email protected].
The FRC is aiming to release the final version of the Taxonomy Suite in November 2026, together with a feedback statement.