(2)The core taxonomy to be used for the single electronic reporting format is based on the IFRS Taxonomy and is an extension of it. The IFRS Foundation annually updates the IFRS Taxonomy to reflect, amongst other developments, the issuance of new IFRS, the amendment of existing IFRS, the analysis of disclosures commonly reported in practice, or improvements to the general content or technology of the IFRS Taxonomy. Therefore, it is necessary to update the regulatory technical standards to reflect each annual update of the IFRS Taxonomy. In March 2022, the IFRS Foundation published the updated version of the IFRS Taxonomy. This update should therefore be reflected in Delegated Regulation (EU) 2019/815.