The 2015 Amendments to the IFRS for SMEs were issued by the IASB in May 2015. Jurisdictions that have signed a licence agreement with the Foundation for adoption of the IFRS for SMEs will have already received the text of the amendments. If you have an active licence agreement in place for the IFRS for SMEs and you have not received the amendments, please get in touch with us.
The amendments are also available to be licensed for translation and publication by jurisdictions and organisations that are not adopting. If you are interested, please contact the TAC team who will provide advice on licensing and will help put relevant contractual arrangements in place.
The consolidated text of the 2009 IFRS for SMEs, incorporating the 2015 amendments is expected to be published later in the year. The option is available to translate the amendments, the consolidation, or both.
Coming up: the 2015 World Standard-setters meeting 2015
Since 2002 the International Accounting Standards Board (IASB) has hosted an annual conference for the world's financial reporting standard setters. This year the World Standard-setters meeting (WSS) will take place on the 28 and 29 September 2015 in London.
If you are planning to attend, this is a good opportunity to meet with the TAC team to discuss your adoption, translation and copyright needs. Last year the TAC team met with standard-setters from 32 jurisdictions and we are hoping for a successful turnout this year. If you would like to have a one-to-one meeting with the TAC contact person for your jurisdiction, please let us know before the conference and we will arrange a convenient time.
The TAC team will also be hosting an open session where you will be able to drop in and ask any questions you may have on adoption, translation and/or copyright. The time and place of this session will be confirmed closer to the event.
For details of how to register for WSS, please see our website.
Japan and Saudi Arabia sign IFRS convergence agreements
We are pleased to announce that the IFRS Foundation signed IFRS convergence agreements called licences for use with the Financial Accounting Standards Foundation (FASF) in Japan and the Saudi Organization of Certified Public Accountants (SOCPA) in Saudi Arabia. The Foundation supports these two converging jurisdictions by licensing them to create and publish their local standards, which are based on the IFRS Standards.
The licence for use allows FASF to develop and publish standards called Japan’s Modified International Standards (JMIS) and SOCPA to develop and publish standards called Saudi Arabian Financial Reporting Standards (SAFRS) based on IFRS Standards as issued by the International Accounting Standards Board.
TAC at CReCER conference
The TAC team’s recent outreach activity included a trip to Ecuador to attend an Accounting and Accountability for Regional Economic Growth (CReCER) conference in Quito in May 2015.
TAC project manager Mari Carmen Civera met there with standard-setters and Ministries from the Latin American region to discuss translation, adoption and copyright matters.
When possible, the TAC is trying to reach out to accounting standard-setters and licensees and meet face-to-face, so please do let the TAC team know if you are in London. Please also let us know if you are travelling in Europe because as we may be able to meet you.
Translations, Adoption and Copyright Update online
