Updating the IFRS Taxonomy Preparer's Guide

This staff paper is prepared for discussion at a public meeting of the IFRS Taxonomy Consultative Group (ITCG) regarding the update of the IFRS Taxonomy Preparer's guide. The original Preparer's guide was published in 2019 to assist preparers in understanding the IFRS Taxonomy. The update aims to consolidate learnings from global usage of the IFRS Accounting Taxonomy and support preparers in utilizing the IFRS Sustainability Disclosure Taxonomy. The paper outlines the reasons for the update, including the need for guidance on recent changes to IFRS digital taxonomies and addressing common errors in digital financial reports. The staff plans to conduct further research to identify market gaps and gather insights from stakeholders, including preparers and regulators. The document also includes questions for ITCG members to provide feedback on the planned updates and potential topics for revision or addition in the Preparer's guide.