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.


Content

• Approaching comment deadline on the proposed amendments to the IFRS for SMEs
• Deadline for membership of the SME Implementation Group
• Updated Terms of Reference and Operating Procedures for the SME Implementation Group
• IFRS for SMEs translations: status report
• Where to obtain IFRS for SMEs materials

The deadline for responses to the IASB Exposure Draft, ED/2013/9, Proposed amendments to the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) is next week (3 March 2013). To view the Exposure Draft and/or submit a comment letter click here.

An overview of the proposals is available in Snapshot: Comprehensive review of the IFRS for SMEs [PDF]

More information on the comprehensive review is available on the SME webpages of the IASB website (www.ifrs.org).


Deadline for membership of the SME Implementation Group

The closing date for applications for membership of the SMEIG is this week (28 February 2014). The January 2014 press release inviting nominations for membership of the SMEIG can be accessed here.


Updated Terms of Reference and Operating Procedures for the SME Implementation Group


The Terms of Reference and Operating Procedures for the SMEIG have been updated to reflect the fact that the SMEIG Q&A programme will continue in the future as a two-tier system:

• Tier 1 issues would be those requiring authoritative guidance and would require full due process. These issues are expected to be rare.
• Tier 2 issues would be dealt with by non-mandatory education material subject to the normal due process for educational material.

The updated Terms of Reference and Operating Procedures for the SMEIG are available on the SMEIG page.


IFRS for SMEs translations: status report


Where to obtain IFRS for SMEs materials

• The Standard online (available in multiple languages)
• The Standard in hard copy
• Information about the SME Implementation Group
• Information about the Comprehensive Review of the IFRS for SMEs
• Information about guidance for micro-sized entities applying the IFRS for SMEs
• The Exposure Draft of proposed amendments to the IFRS for SMEs
• Q & As
• 'Train the trainers' workshops and presentation slides
• Training materials in PDF format
• IASB and staff presentations about the IFRS for SMEs
• Past copies of the IFRS for SMEs Update

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