IFRS for SMEs® Update
From the IFRS Foundation®

February 2016 edition
Welcome to the IFRS for SMEs Update

The International Accounting Standards Board®'s (the Board) IFRS for SMEs Update is a staff summary of news, events and other information about the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs). The newsletter is issued monthly and all past issues are available in both HTML and PDF format on the Board's website.


Contact us

If you have news about IFRS for SMEs activities in your jurisdiction, questions about the content of the IFRS for SMEs or implementation issues please contact:

Darrel Scott
IASB Member and Chairman of the SME Implementation Group

Michelle Fisher
Senior Technical Manager—IFRS for SMEs

For questions about training material, conferences, and workshops please contact:
Elizabeth Buckley
Project Manager, IFRS Education Initiative

For copyright and translation issues please contact:
Karin Jones
Content Services Manager
Subscribe to the IFRS for SMEs Update

New? Register here
Manage your alerts here

Invitation to apply for membership of the SMEIG

The Trustees of the IFRS Foundation invite applications from, and nominations of, suitable candidates for membership of the SME Implementation Group.

The SMEIG was established to support the international adoption of the IFRS for SMEs and monitor its implementation. It has two principal responsibilities:

  1. to develop non-mandatory education guidance for implementing the IFRS for SMEs in the form of questions and answers (Q&As) that are made publicly available (for details on how to submit issues for consideration by the SMEIG please click here); and
  2. to make recommendations to the International Accounting Standards Board® as and when required regarding any need to amend the IFRS for SMEs.

Up to 14 new members are being sought to replace the members retiring in June 2016 and to fill the current vacancies. New members would serve three-year terms, starting on 1 July 2016.

The SMEIG consists of up to 30 members who are selected for their knowledge of, and experience in, financial reporting by SMEs. It is also preferable that they have knowledge of, and direct experience with, the IFRS for SMEs. Suitable candidates typically include accountants working in SMEs, auditors in small or medium-sized public practices, and bank lenders and other users of financial statements of SMEs. The IFRS Foundation aims to maintain a reasonably broad geographical representation among the members of the SMEIG.

All members of the SMEIG will serve on a voluntary, unpaid basis. The SMEIG also includes appointed observers who have the right to participate in SMEIG deliberations, but not to vote.

Applications are invited to sme@ifrs.org. Candidates should explain their own or their nominee’s knowledge and experience in the financial reporting of SMEs and submit any additional material they consider relevant to support their submission.

Further information about the SMEIG, including the Terms of Reference and Operating Procedures for the SMEIG, can be found here.

IFRS for SMEs translations: status report

The 2015 Amendments to the IFRS for SMEs are now available to eIFRS Basic subscribers in Spanish and Albanian (registration is free of charge here).

The following translations of the IFRS for SMEs 2015 (Bound Volume) are also in progress:
  • Japanese;
  • Brazilian Portuguese; and
  • Spanish
Here is the current status of the 2009 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*.

*Available for free download here (for translations not marked with an * please see our IFRS Shop for details on how to purchase a hard copy).

Where to obtain IFRS for SMEs materials
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.
Copyright © IFRS Foundation
You are receiving this email because the email [%CUST_EMAIL%] was subscribed to our email list. If at any time you no longer wish
to receive these alerts please unsubscribe. To understand how we store and process your data, please read our privacy policy.