Review 2019 and circular accounting

The International Accounting Standards Board (IASB) starts a review of the current IFRS for SMEs.
The review will start in 2019 and should lead to a new version of IFRS for SMEs by (May) 2022. 

In a (free) article, Tweuus describes the timeline and the phasing of the review.

In the Dutch (and the European) situation, the IFRS for SMEs does not apply, but the rules in the national environment use to ‘seep through’.

A more important question than an update of the rules for ‘small’ enterprises is probably the need to think thoroughly about what accounting for a circular economy should look like. It would be nice if regulators would start thinking about this subject well before 2022.