IFRS Foundation Issues Educational Module 9 for SMEs

Posted 28 November 2025 Written by Acts Online
Category Financial and Accounting

Brought to you by SA Accounting Academy: The IFRS Foundation has released a new educational module to assist in the application of Section 9 of the third edition of the IFRS for SMEs Accounting Standard.

In terms of the third edition of the IFRS for SMEs Accounting Standard, which was issued by the International Accounting Standards Board (IASB) in February 2025, the IFRS Foundation has published Educational Module 9: Consolidated and Separate Financial Statements. This module was prepared by the IASB technical staff to support the implementation of requirements related to the presentation of financial statements under Section 9.

The educational material is specifically designed for stakeholders involved in the preparation, audit, or analysis of financial statements for small and medium-sized entities (SMEs). Under Section 1 of the Standard, these are defined as entities that publish general-purpose financial statements and do not have public accountability.

The module provides technical guidance on the following areas:

  • The requirements for presenting consolidated and separate financial statements under Section 9.
  • A detailed comparison between the IFRS for SMEs Accounting Standard and the related requirements in full IFRS Accounting Standards.
  • Practical application guidance for entities transitioning to or applying the third edition of the Standard.

Click here to download the IFRS for SMEs Educational Module 9.

What this means for you, your business, or your clients

  • For yourself: You must familiarise yourself with the technical clarifications in Module 9 to ensure your interpretation of consolidation requirements under the February 2025 Standard remains current.
  • For your business: Your firm should update its technical library and audit programmes to incorporate the IASB staff’s guidance on Section 9, particularly regarding the comparison with full IFRS.
  • For your clients: You can provide more precise advice to SME clients on whether they meet the consolidation criteria and how to structure their separate financial statements to comply with the third edition.

Originally published at https://accountingacademy.co.za/news/read/ifrs-foundation-ifrs-for-smes-educational-module-9

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