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The International Accounting Standards Board (IASB) has 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.

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.

Submit your comments

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.

There are two ways you can submit your comments:

  • via comment letter; or
  • the optional comment letter template.
Login/register to submit a comment letter