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The International Accounting Standards Board (IASB) has today published for public comment the Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard, which supplements the exposure draft published in September 2022.

The IASB is supplementing its proposals to respond to feedback from users of SMEs’ financial statements and from the SME Implementation Group. Both groups said the amendments made to full IFRS Accounting Standards relating to lack of exchangeability between two currencies and disclosure requirements for supplier finance arrangements are relevant to SMEs and should be included in the third edition of the Standard.1

The proposals in the Exposure Draft would update the IFRS for SMEs Accounting Standard and reflect improvements made to the full IFRS Accounting Standards. The proposals balance the needs of users of SMEs’ financial statements, while maintaining the IASB’s commitment to only update the Standard periodically.

The deadline for comments on the proposals in the Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard is 31 July 2024.

Read the Exposure Draft.

1SMEs are entities that are eligible to apply the IFRS for SMEs Accounting Standard—that is, entities that do not have public accountability and that publish general purpose financial statements for external users. Full IFRS Accounting Standards are developed to meet information needs of investors and other participants in global capital markets.

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IFRS Accounting consultative documents
IFRS Accounting Standards development
The IFRS for SMEs Accounting Standard