Welcome to the IFRS for SMEs Update

The IASB's IFRS for SMEs Update is a staff summary of news relating to the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs). All issues of the IFRS for SMEs Update are available in both HTML and PDF format on the IASB's website. To subscribe use the link on the right, see on the right hand side for more information about how to do so.


Content

• IFRS Foundation appoints members of the SME Implementation Group
• Train the trainers workshop in Rio de Janeiro
• Where to obtain IFRS for SMEs materials

The IFRS Foundation, the body responsible for the adoption of International Financial Reporting Standards (IFRSs) and the oversight of the International Accounting Standards Board (IASB), has announced the membership of the newly created SME Implementation Group.

The mission of the Group is to support the international adoption of the IFRS for Small and Medium-sized Entities (IFRS for SMEs) and to monitor its implementation. The Group has two main responsibilities:

The IFRS Foundation invited applications for membership of the Group in March 2010 and received almost 90 applications. The 21 members of the Group were selected on the basis of their knowledge and experience in the financial reporting of SMEs. Although members of the Group do not act as country representatives, the Trustees of the IFRS Foundation sought to ensure a balanced geographical distribution in selecting its members. Representatives of the European Commission and the European Financial Reporting Advisory Group (EFRAG) will participate in the work of the Group as observers.

The members of the Group will serve a renewable term of two years from July 2010.

IASB Board Member Paul Pacter (who for the past six years had been the IASB’s Director of Standards for SMEs) will serve as chairman of the SME Implementation Group. Members of the Group are:

Name	Affiliation
Africa
Dr Khalded A Hegazy Egypt	Partner, Crowe Dr. A. M. Hegazy & Co.
Omodele Robert Nicholas Jones Sierra Leone	Chair, Council for Standards of Accounting, Auditing, Corporate & Institutional Governance (CSAAG)
Bruce Mackenzie South Africa	Managing Partner, W Consulting
Asia / Oceania
Sanath Fernando Sri Lanka	Partner, Ernst & Young
Michelle Fisher Hong Kong SAR, People’s Republic of China	Senior Manager, Technical, Deloitte
Ying Wei People’s Republic of China	Deputy Director-General, Accounting Regulatory Department of Ministry of Finance
Europe
Steven Brice United Kingdom	Financial Reporting Advisory Partner, Mazars
Professor Robin Jarvis United Kingdom	Head of SME Affairs, The Association of Chartered Certified Accountants (ACCA)
Dr Claudia Mezzabotta Italy	Head of IFRS for SMEs Working Group of Ordine dei Dottori Commercialisti ed Esperti Contabili di Milano (ODCEC Milano), Italy; Director, Department of Accounting and Financial Reporting Standards (English classes), Scuola di Alta Formazione della Fondazione dei Dottori Commercialisti di Milano
Signe Moen Norway	Partner, PricewaterhouseCoopers
Hugo van den Ende Netherlands	Partner, PricewaterhouseCoopers Accountants N.V. Amsterdam
North America
Ana Denena United States	Partner, UHY LLP
Thomas J Groskopf, CPA United States	Director, Barnes, Dennig & Co., Ltd.
David Martínez Muñoz United States	Operations Officer, World Bank Organisation
Keith C Peterka United States	Professional Standards Group, Mayer Hoffman McCann P.C.
Latin America / Caribbean
Artemio Bertholini Brazil	Partner, Directa Auditores, a member firm of PKF International Limited
Andrew F Brathwaite, CA Barbados	Principal, AFB Consulting, Chartered Accountants
Cdor. Hernán P Casinelli Argentina	Director of IFRS course and the Chartered Public Accounting Program, Universidad Argentina de la Empresa (UADE). Associate member, Gajst & Asociados
Haydeé de Chau Panamá	Partner, KPMG
Professor Jorge José Gil Argentina	Professor, University of Cuyo, Aconcagua University, General Director of AAASB (FACPCE)
Ricardo Rodil Panamá	Senior Partner, Nexia Villas Rodil Auditores Independetes

Observers:

A new web page for the SME Implementation Group has been created on the IASB’s website: http://www.ifrs.org/IFRS+for+SMEs/SME+Implementation+Group/SME+Implementation+Group.htm

On 2-4 August 2010, the IASB and IFRS Foundation conducted their fifth three-day workshop to 'train the trainers' on the IFRS for Small and Medium-sized Entities. The workshop was sponsored by the Brazilian Development Bank (BNDES) and was held at the BNDES headquarters in Rio de Janeiro, Brazil. Instructors were Paul Pacter, IASB Board Member, and Ricardo Lopes Cardoso, Practice Fellow at the IFRS Foundation's IFRS Education Initiative. Paul spoke in English, and Ricardo in Portuguese, with simultaneous translation throughout. (You can find more information about BNDES here: http://www.bndes.gov.br )

There were nearly 700 participants from throughout Brazil at the venue in Rio. In addition, the training was broadcast live, in both Portuguese and English, over two Web television networks, known as TVCRCRJ and TVCRCSC. TVCRCRJ is operated by the Conselho Regional de Contabilidade do Rio de Janeiro (the Rio de Janeiro Regional Accounting Council) and TVCRCSC is operated by the Conselho Regional de Contabilidade de Santa Catarina (the Santa Catarina Regional Accounting Council). The presentations were recorded and continue to be available, free of charge, on the two websites:
www.tvcrc.com.br
www.tvcrcsc.com.br

In total, 17,614 people registered and viewed the three-day workshop on-line. The great majority of the viewers were from within Brazil (from over 190 cities), but over 100 persons were from outside Brazil, including USA (from 24 cities), Spain, Switzerland, France, Canada, and UK.