The International Accounting Standards Board (IASB) has recently 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.1
