On December 19, 2023, at a meeting of the Financial Reporting System Management Committee established in accordance with Memorandum of Understanding No. 102/15 on the development and implementation of the financial reporting system dated 18.12.2017, the electronic format of the UA IFRS XBRL 2022 Taxonomy, which was developed with the assistance of the EU-FAAR project, was approved. The electronic format of the UA IFRS XBRL Taxonomy 2022 has been approved for further use by reporting entities in the preparation of annual financial statements in electronic format for 2022 and interim financial statements for 2023 (1 quarter 2023, half year 2023 and nine months 2023) (Source: https://www.nssmc.gov.ua/taksonomiia-xbrl/).
Caseware Ukraine has prepared an update for the Caseware Financials software, allowing for a much faster transition to the new taxonomy than in previous years. Now, the transition to the new taxonomy takes a maximum of 20 minutes instead of the previous 2 hours. Additionally, if necessary, users can easily revert to previous taxonomy versions for specific projects.
To understand the changes that have occurred in the taxonomy and how they affect companies’ reporting, we have added functionality to view changed tags. When transitioning to the new taxonomy, users receive a report indicating which tags need to be replaced.
Please note that the final deadline for submitting financial statements for the year ended December 31, 2022, is July 1, 2024.
To receive the update, please send an email to financials@caseware.com.ua,
or contact the manager assigned to your company directly.
