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IFRS Taxonomy 2014 Common Practice Project—Call for Participation
2014-05-28 Editor:那一剪风情 Views:


For the last four years,IASB staff have been co-operating with external parties to identify common practice elements for addition to the IFRS Taxonomy.Common practice elements relate to qualitative or quantitative items that entities commonly present or disclose within IFRS financial statements,even though they are not referred to explicitly in Standards or Illustrative Examples accompanying the Standards.

The IASB has now re-established a Common Practice project for 2014and is seeking suitable participants to contribute to this project.

The 2014Common Practice Project

The 2014Common Practice Project will focus on identifying common practice elements related to the following activities:

a. chemicals;

b. information technology (including software,hardware,peripherals,etc);

c. media (including publishing,television networks,digital downloads,printing,etc);and

d. utilities

What contribution are we asking for?

We expect that participants will actively contribute to an empirical analysis of financial statements and/or provide general feedback to the IASB staff:

Empirical analysis—participants,such as,but not limited to,regulators or accountancy firms,are requested to undertake an analysis of the disclosures for a (sample)set of IFRS financial statements,perform a comparison with the elements available within the IFRS Taxonomy and suggest additional items based on their review.

Provide general feedback—participants,such as,but not limited to,investors or preparers of financial statements,are requested to take part in conference calls and provide general feedback to the IASB staff.This feedback should relate to common practice as it exists in the industries previously mentioned.Feedback may include,for example,information on which notes to the financial statements should be targeted for empirical analysis and evaluation of the proposed additions to the IFRS taxonomy.Conference calls are expected to last up to one hour and occur up to four times during the duration of the project.


The empirical analysis for our 2014Common Practice project is expected to be performed during Q2of 2014for utilities and information technology and during Q3of 2014for media and chemicals.Feedback will be sought throughout the duration of the project.

Contact details

If you wish to participate in our 2014Common Practice Project,you are invited to express your interest by 15April 2014,either :

in writing to Kristy Robinson ,Technical Principal,IASB,30Cannon Street,London EC4M 6XH,United Kingdom;or

by email to


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