Key Updates in Professional Standards: What You Need to Know for 2026!

Professional Standards Update – SIA The Samoa Institute of Accountants advises that the Council has approved the following:

• ISA for Less Complex Entities (LCE ISA) adopted, effective for eligible audits from 1 January 2026 (early adoption permitted);
• IFRS 17 – Insurance Contracts adoption deferred, pending further piloting, commissioning, and training;
• Sustainability Standards (IFRS S1 and IFRS S2) to continue piloting, with an intended effective date during 2026, subject to readiness.

These decisions support audit quality, proportional regulation, and Samoa’s capacity-building pathway. Issued by Council of the Samoa Institute of Accountants