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On 3 November 2021, at COP26, the IFRS Foundation Trustees announced the creation of the International Sustainability Standards Board (ISSB).
The ISSB will deliver a global baseline of sustainability disclosures to meet capital market needs.
The International Accounting Standards Board (IASB) has published proposals to update the IFRS for SMEs Accounting Standard—to reflect improvements that have been made in full IFRS Accounting Standards, while keeping the Standard simple for small and medium-sized entities.
Proposed amendments include updating the Standard to:
The proposed updates also include new requirements in IFRS Accounting Standards and other improvements that have been made to full IFRS Accounting Standards since the second edition of IFRS for SMEs Accounting Standard was published in 2015. The proposals respond to feedback from stakeholders on the Request for Information that was published in 2020 and advice of the SME Implementation Group.
The comment letter period is open until 7 March 2023.
You can submit a response to the Exposure Draft via:
Access the Exposure Draft and optional response document below.
Exposure Draft: Third edition of the IFRS for SMEs Accounting Standard
Basis for Conclusions and Illustrative Financial Statements on Exposure Draft Third edition of the IFRS for SMEs Accounting Standard
Exposure Draft: Optional Response Document
Proyecto de Norma: Tercera edición de la Norma de Contabilidad NIIF para las PYMES
Fundamentos de las Conclusiones y Estados Financieros Ilustrativos del Proyecto de Norma Tercera edición de la Norma de Contabilidad NIIF para las PYMES
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