LATEST UPDATE

IFRS Foundation News Alert

IASB issues a major update to the IFRS for SMEs Accounting Standard

The IASB has issued a major update to the IFRS for SMEs Accounting Standard, which is currently required or permitted in 85 jurisdictions. This Standard aims to balance the information needs of lenders and other users of SMEs’ financial statements with the resources available to SMEs. The Standard defines SMEs as entities without public accountability that prepare general-purpose financial statements.