IFRS for SMEs Update
From the IFRS Foundation

Issue 2012-9, October 2012
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.


Contact us

If you have news about IFRS for SMEs activities in your jurisdiction please contact Paul Pacter and Michelle Fisher (details below)

Content of the IFRS for SMEs, implementation and adoption issues:

Paul Pacter
IASB Board Member and Chairman of SME Implementation Group

Michelle Fisher
Senior Technical Manager—IFRS for SMEs

Training material, conferences, and workshops:
Michael Wells
Director, IFRS Education Initiative

Copyright and translation issues:
Nicole Johnson
Content Services Principal
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Comment deadline for the Request for Information: Comprehensive review of the IFRS for SMEs

The deadline for responses to the Request for Information: Comprehensive Review of the IFRS for SMEs is 30 November 2012. To view the Request for Information and/or submit a comment letter click here.

The International Accounting Standards Board (IASB) issued the Request for Information in June 2012 as the first step in its 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 IASB has published a separate Microsoft Word Optional Response Document for respondents to use for submitting their comments if they wish to do so. This document may be downloaded here. If you are prompted to enter a password when downloading this document please click Cancel in the prompt dialog.

Arabic-language training modules (Module 27 Impairment of Assets and Module 31 Hyperinflation)

Arabic-language translations of Module 27 Impairment of Assets and Module 31 Hyperinflation of the IFRS for SMEs training material are now available. In total, 30 Arabic-language modules are available for download from the IFRS Foundation website and they can be accessed here.

The IFRS Foundation is grateful to the Arab Society of Certified Accountants (ASCA) Jordan for facilitating and funding the translation of the training material.

IFRS for SMEs translations: status report

Here is the current status of translations of the IFRS for SMEs approved by the IFRS Foundation:

Completed: Albanian*, Arabic, Armenian*, Bosnian*, Chinese (simplified)*, Croatian*, Czech*, Estonian*, French*, Hebrew*, Italian*, Japanese*, Kazakh*, Khmer*, Lithuanian*, Macedonian*, Mongolian*, Polish*, Portuguese*, Romanian*, Russian*, Serbian, Spanish* and Turkish*.

In process: German and Ukrainian.

Under discussion with the IFRS Foundation: Georgian.

*Available for free download here (for translations not marked with a * please see our webshop for details of how to purchase a hard copy).

Upcoming ‘train the trainers’ workshop

For more details, click here.

The Middle East

Date: 27–29 November 2012
Location: Abu Dhabi, UAE
Instructors: Paul Pacter (Chairman, SME Implementation Group and IASB member) and Michael Wells (Director, IFRS Education Initiative, IASB)
Language: English spoken (workshop material in Arabic and English)
Sponsoring organisation: Abu Dhabi Department of Economic Development

Where to obtain IFRS for SMEs materials
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Disclaimer: The content of this Update does not represent the views of the IASB or the IFRS Foundation and is not an official endorsement of any of the information provided. The information published in this newsletter originates from various sources and is accurate to the best of our knowledge.
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