The IFRS for SMEs Standard Update is a quarterly staff summary of news, events and other information about the IFRS for SMEs Standard and related SME activities. The staff summary has not been reviewed by the International Accounting Standards Board (Board).
The IFRS Foundation has completed its suite of 35 stand-alone modules designed to provide support to those producing or using financial statements prepared in accordance with the IFRS for SMEs Standard.
Each module covers one section of the IFRS for SMEs Standard and includes:
The new modules are proving very popular—already the website has been visited nearly 25,000 times. Access the modules here.
The Board has commenced its 2019 Comprehensive Review of the IFRS for SMEs Standard.
The first phase of the review is to develop a request for information (RFI).
The staff have proposed that the RFI seek views on whether and how to align the IFRS for SMEs Standard with new and amended IFRS Standards. Based on feedback on the RFI, the Board will consider whether to develop an exposure draft of amendments to the IFRS for SMEs Standard.
Over the review period staff will occasionally publish additional editions of this newsletter to ensure that subscribers are kept up to date with the Board’s tentative decisions about the project.
The following translations of the 2015 IFRS for SMEs Standard are available and have been approved by the IFRS Foundation:
Albanian, Arabic, Armenian, Bosnian, Georgian, Japanese, Kazakh, Mongolian, Portuguese and Spanish.
The following translations of the 2009 IFRS for SMEs Standard are available and have been approved by the IFRS Foundation:
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.