The Fact Sheet on the
IFRS for SMEs, which summarises activities since the
IFRS for SMEs was issued, has been updated.
The Fact Sheet includes information about adoptions, translations, training, the SME Implementation Group (SMEIG), the current comprehensive review of the
IFRS for SMEs and other SME activities. It also contains an up-to-date list of SME resources that are available for free download from the website.
Download the updated
IFRS for SMEs Fact Sheet.
SMEIG papers available online
The SMEIG has been asked to develop a report of recommendations for the International Accounting Standards Board (IASB) on the proposals in ED/2013/9
Proposed amendments to the IFRS for SMEs (the ‘ED’).
On 30 June 2014, the second term of the 22 existing members of the SMEIG came to an end. The IFRS Foundation has reappointed 11 existing members and appointed 16 new members effective 1 July 2014 (see news story in the June edition of
IFRS for SMEs Update). The first task of the restructured SMEIG is to consider the public responses received on the ED and provide their recommendations to the IASB.
Staff papers covering the issues that the SMEIG will address were sent to SMEIG members in July. Responses from SMEIG members are due in September. The staff will use individual SMEIG members’ responses to develop the first draft of a report containing a combined response by the SMEIG. Once the final report of recommendation has been approved by SMEIG members, it will be posted online and provided to the IASB before the IASB begins its redeliberations of the proposals in the ED.
More information about the SMEIG, including the staff papers sent to the SMEIG, is available on the
SMEIG pages.
IFRS for SMEs ‘train the trainers’ workshop in Malaysia
On 30 June—1 July 2014 the IFRS Foundation held a two-day workshop in Kuala Lumpur, Malaysia, to train the trainers on the
IFRS for SMEs. The IFRS Foundation instructors were Darrel Scott (Chairman of the SMEIG and IASB member) and Michael Wells (Director, IFRS Education Initiative, IASB). The event was sponsored by the Malaysian Accounting Standards Board (MASB) and the Malaysian Institute of Accountants (MIA).
More information about past workshops, including free downloads of the Microsoft PowerPoint® slides used in the workshops, can be found
here.
IFRS for SMEs translations: status report
Here is the current status of the
IFRS for SMEs translations that have been approved by the IFRS Foundation:
Completed: Albanian*, Arabic, Armenian*, Bosnian*, Bulgarian*, Chinese (simplified)*, Croatian*, Czech*, Estonian*, French*, Georgian, German, Hebrew*, Italian*, Japanese*, Kazakh*, Khmer*, Lithuanian*, Macedonian*, Mongolian*, Polish*, Portuguese*, Romanian*, Russian*, Serbian, Spanish*, Turkish* and Ukrainian*.
In progress: Azeri and Turkmen.
*Available for free download
here (for translations not marked with an * please see our
webshop for details on how to purchase a hard copy).
