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.