On April 9, 2021, at the Financial Reporting System Management Committee meeting, established in accordance with the Memorandum on Financial Reporting System Development and Implementation dated 18.12.2017 No.102/15, the electronic format of taxonomy UA XBRL IFRS of 2020 (v.1.2) was adopted for use by reporting entities in preparing financial statements in electronic format in 2020 and intermediate financial reporting in 2021.
Electronic format of the Taxonomy UA XBRL IFRS 2020 (v.1.2) is published on official sites of the NSSMC (www.nssmc.gov.ua), NBU (www.bank.gov.ua), Ministry of Finance of Ukraine (www.mof.gov.ua) and on the official website of the Financial Reporting System (www.frs.gov.ua).
Approval of electronic format of the Taxonomy UA XBRL IFRS 2020 (v.1.2) provides an opportunity to complete the technical configuration of the Financial Reporting Center (hereinafter – FPC) component, designed for reporting entities to provide financial statements prepared on the basis of the Taxonomy UA XBRL IFRS 2020 in a single electronic format.
The launch of the financial reporting campaign to FPC, compiled on the basis of Taxonomy UA XBRL IFRS 2020 in a single electronic format, will be announced further after completing the system setup.
Please, note that in order to be able to submit financial statements in the XBRL format, reporting entities must expedite the registration procedures in the Financial Reporting Center and complete the “Corporate Profile” report on the “Registration of Reporting Entities” portal (www.frs.gov.ua) and its approval by regulators.
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