IFRS Foundation creates XBRL task force

The IFRS Foundation has set up a task force to
examine XBRL tagging in IFRS financial statements and is looking
for preparers from listed companies to participate in the project
that will see them produce fully-tagged financial statements using
IFRS Taxonomy.

“The task force will be a means for the
Foundation to engage with stakeholders and obtain feedback on the
usability of the IFRS Taxonomy for filers and for users of filed
XBRL content in the context of detailed note tagging,” IFRS
Foundation said.

The IFRS Foundation said it is seeking
participation from listed company preparers, from around the world
and different industries, who report in IFRS

“The incentive for the task force is a
follow-up to the  pilot initiative that it recently concluded
with US-listed foreign companies to produce US-SEC-compliant IFRS
financial reports in XBRL format,” the IFRS Foundation said.

The IFRS Foundation will be accepting
applications for the task force until 10 April.