Overview

The global financial reporting landscape for small and medium-sized entities (SMEs) is facing its most substantial change in over a decade. The third edition of the IFRS for SMEs Accounting Standard, issued in February 2025, introduces significant amendments that enhance relevance, simplify application and align the SMEs Accounting Standard more closely with full IFRS Accounting Standards in key areas. Application is mandatory for reporting periods beginning on or after 1 January 2027 and most changes apply retrospectively — so, with 2026 as the comparative period, preparation should begin well before the effective date. Underestimating the transition carries real consequences: prior-period restatements, transition errors, modified audit opinions, eroded stakeholder confidence, non-compliance penalties and avoidable operational disruptions.

This webinar will give participants an understanding overview of the significant changes to the IFRS for SMEs Accounting Sstandard and how auditors can prepare for the implementationthe expected impact – and what they mean for auditors and their clients as the 2027 effective date approaches.

What You Will Learn

• The key changes introduced by the Third Edition of the IFRS for SMEs® Accounting Standard
• The background and scope of the Second Comprehensive Review (SCR)
• The IASB’s approach to aligning the SMEs Accounting Standard with full IFRS Accounting Standards
• The effective date and transition requirements, including the implications of retrospective application
• The sections of the standard that have undergone major amendments
• The sections that have undergone minor amendments
• Key considerations for implementing the Third Edition
• The potential impact of the changes on you and your SME clients
• Supporting implementation materials provided by the IASB
• What you should consider now to prepare for the 1 January 2027 effective date

Who Should Attend?

This webinar is designed for:

• Auditors and audit managers
• Accountants and financial reporting professionals
• Finance managers and financial controllers
• Partners and directors responsible for SME engagements
• Accounting and audit trainees
• Professionals responsible for preparing or reviewing SME financial statements
• Advisors supporting clients with IFRS for SMEs® implementation and transition
• Anyone who needs to prepare for the 1 January 2027 effective date

Registration and Certification

Participants will receive a verifiable LEAF Certificate of attendance upon completion of the webinar.
Where applicable, this session may qualify for Continuing Professional Development (CPD/CPE) credits (subject to your local professional body requirements).

Registration:

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