The European Federation of Accountants and Auditors for SMEs (EFAA for SMEs) welcomes the opportunity to provide views in response to the IASB’s exposure draft (ED) for the Addendum to the Third Edition of IFRS for SMEs Accounting Standard. This aims to amend Section 7 and Section 30 of the IFRS for SMEs Accounting Standard (the ‘Standard’). This response was prepared with the assistance of EFAA’s Accounting and Tax Expert Group.