The International Acunting Standards mittee (IASC) Foundation today published for public mment an exposure draft of the International Financial Reporting Standards (IFRSs) Taxonomy.The proposed taxonomy is nsistent with IFRSs and the IFRS for Small and Medium-sized Entities (SMEs).

The proposed taxonomy ntains significant architectural improvements when mpared with the 2009 version; in particular the proposed architecture integrates IFRSs and the IFRS for SMEs into a single taxonomy. Other proposed improvements include an extended use of axes (dimensions) in the taxonomy, rensideration of the IASC Foundation’s approach for ncept naming and of its principle of deleting rndant (deprecated) ncepts.

The IFRS Taxonomy 2010 is a translation of IFRSs as issued at 1 January 2010 into XBRL (eXtensible Business Reporting Language). XBRL is rapidly beming the format of choice for the electronic filing of financial information - particularly within jurisdictions reporting under IFRSs - because it facilitates simpler and faster filing and mparison of IFRS financial data by mpanies, regulators, investors, analysts and other users of the IFRS Taxonomy.

Interested parties are invited to mment on the exposure draft of the IFRS Taxonomy 2010 and acmpanying materials by 22 April 2010. The proposed taxonomy and related material can be aessed here. The final version is expected to be released at the end of April 2010.