IFRS Foundation Releases Educational Resources for Third Edition of IFRS for SMEs

Posted 06 January 2026 Written by Acts Online
Category Financial and Accounting

Brought to you by SA Accounting Academy: The IFRS Foundation has issued a suite of educational materials designed to facilitate the transition to and implementation of the third edition of the IFRS for SMEs Accounting Standard.

The release follows the publication of the Third Edition of the IFRS for SMEs Accounting Standard, which introduces significant updates to the reporting framework for small and medium-sized entities. To assist stakeholders in navigating these changes, the IFRS Foundation has provided the following resources:

  • 11 educational modules: These provide detailed explanations and practical examples to clarify the Standard’s requirements, identify significant judgements, and offer comparisons with full IFRS Accounting Standards.
  • 5 webcasts: Focused on specific technical areas and implementation challenges.
  • 3 podcast episodes: Discussing the rationale behind the updates and high-level changes.

These materials are specifically curated to assist accountants, auditors, and independent reviewers in identifying the differences between the previous version of the Standard and the third edition, ensuring that financial reporting remains compliant with the latest international benchmarks.

Click here to access the IFRS for SMEs Accounting Standard supporting materials.

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

  • For yourself: You must familiarise yourself with the 11 new educational modules to understand the significant judgements required under the third edition, particularly where they diverge from full IFRS.
  • For your business: Your firm should update its audit and independent review checklists to reflect the revised requirements of the third edition of the IFRS for SMEs Accounting Standard.
  • For your clients: Clients classified as SMEs will require guidance on the transition to the third edition, specifically regarding changes in recognition and measurement that may impact their financial statements.

Originally published at https://accountingacademy.co.za/news/read/ifrs-foundation-all-the-educational-resources-for-ifrs-for-smes

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