FRC unveils 2024 taxonomy suite
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The UK’s Financial Reporting Council (FRC) has launched its 2024 suite of FRC Taxonomies, encompassing UK IFRS, FRS 101, FRS 102, UKSEF, and Charities. The suite incorporates a number of updates.
The modifications include updated SECR tag units, refined labels for Original and Revised data dimensions, and digitised recommendations for high-quality disclosures of Expected Credit Losses.
The release follows a summer consultation on draft taxonomies. For a comprehensive overview of changes, consult the 2024 FRC Taxonomy Suite webpage.
See the files here.