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Call for listed IFRS filers to participate in a voluntary XBRL Detailed Tagging Task Force

21 March 2011


The IFRS Foundation is establishing a task force to examine detailed XBRL (eXtensible Business Reporting Language) tagging in IFRS (International Financial Reporting Standards) financial statements, and is looking to work directly with preparers from listed companies from different industries and regions.

The Foundation has initiated the task force as a follow-up to the  pilot initiative that it recently concluded with US-listed foreign companies to produce US-SEC (United States Securities and Exchange Commission)-compliant IFRS financial reports in XBRL format.


The aim of the task force is for listed companies to produce fully-tagged financial statements using the IFRS Taxonomy.  Detailed tagging up to level-4 will be applied to participants’ financial statements, whereby all primary financial statement line items and notes disclosures will be tagged using the IFRS Taxonomy 2011 (which is due to be published at the end of March 2011). 

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. 


The IFRS Foundation is seeking participation from preparers of financial statements for listed companies who report in IFRS.  Participation from companies operating in all industries and geographical regions is welcome, and it would be particularly useful to have participation by foreign private issuers listed in the United States because of the expected requirement for foreign private issuers reporting in IFRS to submit IFRS XBRL filings from June 2011.

Time line

Companies interested in participating in the task force should express their interest by 10 April 2011 (contact details below).  Task force participants will be chosen and notified by 15 April 2011.  The first meeting of task force participants will take place on 18 April 2011 by teleconference. 

It is expected that participating companies will have sufficient knowledge to be able to produce detailed XBRL filings by the end of September 2011, which is when the initiative will be completed.


Participating companies will:

  1. Examine major sections within financial statements - such as operating segments, share-based payments, property, plant and equipment, etc - and the corresponding parts of the IFRS Taxonomy that relate to disclosures within those sections, with support and feedback from the IFRS Foundation XBRL Team.
  2. Apply IFRS Taxonomy tags to financial statement note disclosures either in Microsoft Excel or Word or directly in XBRL, again with support and feedback from the IFRS Foundation XBRL Team.
  3. Generate an XBRL file using their preferred software.
Resource requirements

Participants will be expected to examine each of their financial statement note disclosures in detail, to undertake the tagging process and to share the results of this work with other participants via fortnightly one-hour conference calls and two one-day meetings which will take place in London.

Benefits for participating companies

Although participating companies will retain ultimate responsibility for preparing the XBRL filings, they will be working directly with the authors of the IFRS Taxonomy who will provide assistance throughout the XBRL tagging and document creation process on:

  • tagging and disclosure choices;
  • compliance with filing rules and regulatory requirements; and
  • filing review and rendering.

Participating companies will also be able to share and learn from the filings and from the experiences of other participants.

What software should be used?

The IFRS Taxonomy 2011 has been developed and tested using a number of XBRL tools.  However the IFRS Foundation does not recommend or endorse particular products.  The IFRS Foundation XBRL Team is familiar with most XBRL products that are currently available on the market and is therefore happy to work with the software tools chosen by participating companies.

Will the filings be made public?

All information and filings will remain confidential, and will not be shared without the consent of participating companies. However the IFRS Foundation encourages participating companies to publish their filings.

Contact details

Companies interested in participating in the task force are invited to express their interest:

  • in writing to Olivier Servais, Director of XBRL Activities, IFRS Foundation, 30 Cannon Street, London EC4M 6XH, United Kingdom; or
  • by email to

The IFRS Foundation will accept applications until 10 April 2011.

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