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IFRS® Accounting Standards

Addendum to the Exposure Draft Third edition of the IFRS for SMEs® Accounting Standard

Summary

The Accounting Standards Board (AcSB) is monitoring the International Accounting Standards Board’s (IASB) project to align the requirements in the third edition of the IFRS for SMEs Accounting Standard with full IFRS Accounting Standards on supplier finance arrangements and the lack of exchangeability in foreign exchange rates.

The IASB issued its Exposure Draft, “Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard,” in March 2024. The proposals in the Addendum Exposure Draft supplement those in the September 2022 Exposure Draft, “Third edition of the IFRS for SMEs Accounting Standard.”

Refer to the IASB’s Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard project page for more information.

Staff Contact(s)

Danielle MacLeod, CPA, CA Associate Director, Accounting Standards Board

Project Status

  • Information gathering

    Completed before October 2023

  • Approving project

    Completed in December 2023

  • Engaging Communities

    The IASB issued an Exposure Draft in March 2024

  • Deliberating feedback
  • Final pronouncement

News


April 18, 2024

News

Addendum to the Exposure Draft Third edition of the IFRS for SMEs® Accounting Standard

The IASB’s recently released Exposure Draft, “Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard,” supplements the Exposure Draft published in September 2022. We encourage you to respond directly to the IASB by July 31, 2024, to help shape accounting standards for SMEs.