EFRAG’s draft comment letter on the Invitation to Comment IFRS Taxonomy Due Process acknowledges the importance of the IFRS Foundation itself in continuing to develop and maintain an IFRS Taxonomy in order to control the quality of the Taxonomy and the use of the ‘IFRS’ brand name.  EFRAG supports the IFRS Foundation’s goal of having the IFRS Taxonomy recognised as the globally agreed standard to tag and intelligently structure IFRS financial information within a digital report. EFRAG is very much supportive of the Trustees’ statement that Taxonomy considerations should not dictate the standard-setting process.


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