FASB releases 2025 taxonomies for public use
The Financial Accounting Standards Board (FASB) has published the 2025 GAAP Financial Reporting Taxonomy (GRT), SEC Reporting Taxonomy (SRT), and GAAP Employee Benefit Plan Taxonomy (EBPT), alongside the 2025 DQC Rules Taxonomy (DQCRT) and GAAP Meta Model Relationships Taxonomy (MMT). Together, these are referred to as the “FASB Taxonomies.”
The taxonomies are now available for use and are expected to be accepted as final by the US Securities and Exchange Commission (SEC) in early 2025. These updates play a vital role in ensuring consistency and quality in digital financial reporting, supporting both preparers and consumers of financial data.
The FASB Taxonomies can be accessed via the FASB taxonomies page. For more details on each taxonomy, read the full FASB announcement here.
