In February 2025, the International Accounting Standards Board (IASB) published the third edition of the IFRS for SMEs, one of the most relevant international standards in financial reporting, incorporating adjustments and improvements aimed at providing greater clarity, consistency, and alignment with full IFRS, while maintaining the simplicity required for less complex entities.
The new edition retains the same structure of 35 sections as the 2015 version and will become effective for annual periods beginning on or after January 1, 2027. Early adoption is permitted.
Review all the details in the following document prepared by Carlos Barahona V., Audit Managing Partner at CCL Auditores Consultores: