In een persbericht meldt de IFRS Foundation onder meer het volgende: ‘The proposed taxonomy is consistent with IFRSs (International Financial Reporting Standards), including IASs (International Accounting Standards) and the IFRS for SMEs (Small and Medium-sized Entities). The IFRS Taxonomy 2011 is a translation of IFRSs as issued at 1 January 2011 into XBRL (eXtensible Business Reporting Language).  XBRL is rapidly becoming the format of choice for the electronic filing of financial information—particularly within jurisdictions reporting under IFRSs—because it facilitates simpler and faster filing and comparison of IFRS financial data by companies, regulators, investors, analysts and other users of financial information.’