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This update was first published in the April 2012 International edition of Accounting and Business magazine


The International Accounting Standards Board (IASB) intends to undertake a post-implementation review of the IFRS for SMEs in the second half of 2012. In the period since it was first issued, the SME Implementation Group (SMEIG) has issued a number of clarification Q&As. Three have been finalised and a further seven are in the process of being completed.

As part of the IASB’s post-implementation review, it will consider whether the Q&As should be incorporated into the next version of the IFRS for SMEs. The SMEIG does not expect to issue many, if any, further Q&As before the review is complete.

Yvonne Lang, director, Smith & Williamson


Last updated: 3 Apr 2014