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Final Stage

The International Accounting Standards Board (IASB) completed its second comprehensive review of the IFRS for SMEs Accounting Standard in February 2025.

The scope of the review included new and amended IFRS Accounting Standards issued since the last comprehensive review and those IFRS Accounting Standards included in the first comprehensive review that did not result in amendments to the Standard. During the review, the IASB consulted extensively with stakeholders.

The IASB issued the third edition of the Standard in February 2025; the third edition is substantially revised from the previous edition. View the third edition of the IFRS for SMEs Accounting Standard.