In January 2020 the International Accounting Standards Board published a Request for Information to seek views on whether and how to align the IFRS for SMEs Standard with full IFRS Standards.
In the light of the feedback on the Request for Information and the recommendations of its consultation group (SMEIG), the Board is working towards publishing an exposure draft, proposing amendments to the IFRS for SMEs Standard for new requirements that are in the scope of the review.
The Board met on 24 March 2021 to discuss the project plan for the second phase of the Second Comprehensive Review of the IFRS for SMEs Standard.
The Board tentatively decided to:
Twelve of 13 Board members agreed with these decisions.