Draft 2023 Taxonomy Suite published - 12 August 2022
News types: Consultation Announcement, Generic Announcement, Publications
Published: 12 August 2022
The FRC has published a draft version of the 2023 Taxonomy Suite, which is open to public comment for two months through Yeti or via email to [email protected]. We aim to release the final version of the Taxonomy Suite in October 2022, together with a feedback statement.
Key changes to the 2023 Taxonomy Suite:
- Initial, and interim reporting, medium-sized companies, and filleted accounts all have new/updated tags and guidance.
- Support has been added for reporting Alternative Performance Measures (APMs), including a new hypercube with new dimensions:
- Diversity & Inclusion: FCA’s Diversity & Inclusion (D&I) reporting proposals have been incorporated, including new hypercubes for Gender/Sex and Ethnicity reporting.
- Irish Extension and Charities taxonomies have been updated.
- IFRS 17 Insurance Contracts: has been digitalised to reflect the UK endorsement of the Standard. Since this is a new way of reporting Insurance, we are issuing a set of questions which are designed to interrogate the effectiveness of our response to the challenge of digitalising IFRS 17 and providing the facility to fully tag. We encourage people to respond to these questions, as well as reviewing on Yeti.
Key changes to UKSEF 2023
Further information about UKSEF 2023 will be available later this year.