Small and micro-entities represent the majority of Italian businesses, and this draft Accounting Standard follows the outcome of a consultation launched in 2024, which revealed general consensus on developing a single simplified accounting standard for micro and small entities.

The draft accounting standard contains various specific simplifications which, nevertheless, produce results consistent with ordinary accounting standards.

The consultation period ends on February 28, 2027.

Attached are the draft accounting standard with its annexes and the press release.