Aug 17, 2026 · 0 min · 8 segments
Technical staff member Helen Lloyd and director Michelle Sansom discuss the IASB's proposed targeted amendment to the third edition of the IFRS for SMEs Accounting Standard, including why it is being…
Michelle SansomGuest
Helen LloydHost
So now to the big question for this podcast, why is the IASB proposing an amendment to the standard soon after issuing it and before its effective date?
One of the SMIG's tasks is to answer application questions about the standard or make recommendations to the IASB on how to resolve those questions if it can't resolve the question itself through education material.
Although the standard does not include this exception, the SMIG's recommendation to the IASB was important enough to amend the standard, and it would be really helpful to preparers if the amendment could be effective at the same time as the third edition.
So now to the big question for this podcast, why is the IASB proposing an amendment to the standard soon after issuing it and before its effective date?
One of the SMIG's tasks is to answer application questions about the standard or make recommendations to the IASB on how to resolve those questions if it can't resolve the question itself through education material.
Although the standard does not include this exception, the SMIG's recommendation to the IASB was important enough to amend the standard, and it would be really helpful to preparers if the amendment could be effective at the same time as the third edition.
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