Working group on the development and maintenance of financial statement taxonomies

The working group set up by the PRH drafts, develops and maintains taxonomies for financial statements and for the digital documents that are filed with the Finnish Trade Register in conjunction with financial statements.

The goal of the group’s work is to ensure that financial statement taxonomies are as usable as possible and that they appropriately serve different target groups. In addition, the working group aims to engage different parties and make the development of taxonomies transparent.

This page contains information on the working group’s topical themes and on requests for comments related to the content of the taxonomies.

Definitions to be maintained

The working group focuses on maintaining taxonomies for financial statements and consolidated financial statements, including taxonomies for profit and loss accounts, balance sheets, notes to the accounts, and cash flow statements.

Currently, there are reporting sets for limited liability companies and foundations, but the working group intends to expand their content by developing a structured format for notes to the accounts.

In the future, the working group will also draft taxonomies for other company types: first for co-operatives and credit and insurance institutions.

In addition to taxonomy definitions for financial statements, the group maintains other taxonomies for documents that are attached to financial statements. The working group maintains the taxonomy for audit reports, and it is also considering the need for structured annual reports.

The working group also takes into consideration the development of international taxonomies so that the Finnish taxonomies remain compatible with them.

You can participate

The working group’s operations are open, and all those who are interested are welcome to participate. You can participate in the work according to your own activity and interest. The working group mainly convenes in Teams meetings about once a month.

Further information on the working group and enrolments: digitilinpaatos(at)prh.fi.