The IASB has issued a Request for Information as the first step in its initial comprehensive review of the IFRS for SMEs.
The objective of the Request for Information is to seek public views on whether there is a need to make any amendments to the IFRS for SMEs and, if so, what amendments should be made. The deadline for responses is 30 November 2012.
When it issued the IFRS for SMEs in July 2009, the IASB said it would assess the first two years’ experience entities have had in implementing it. The IASB also said that, after the initial review, it expected to consider amendments to the IFRS for SMEs approximately once every three years.
The IASB’s SME Implementation Group (SMEIG) worked closely with IASB staff to develop the Request for Information. The SMEIG approved and submitted its final draft to the IASB for review with a recommendation for issuing the Request for Information.
Click here for the Press Release.
26 June 2012