The staff of the US Securities and Exchange Commission (SEC) has published frequently asked questions (FAQs) on the IFRS Taxonomy. This document provides guidance to Foreign Private Issuers preparing their financial statements in accordance with International Financial Reporting Standards (IFRS) and using the IFRS Taxonomy to submit XBRL filings.
The SEC staff has also updated its FAQs on Inline XBRL. Inline XBRL is a format that allows filers to embed XBRL data directly into a HyperText Markup Language document. According to the SEC, Inline XBRL format has the potential to provide a number of benefits to companies and users of financial information. Inline XBRL could decrease filing preparation costs, improve the quality of structured data, and by improving data quality, increase the use of XBRL data by investors and other market participants.
A copy of the FAQs on the IFRS Taxonomy is available on this link.
A copy of the FAQs on Inline XBRL is available on this link.
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