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SME Implementation Group publishes draft guidance for public comment

24 Feb 2011

Today, the SME Implementation Group published for public comment a question and answer document (Q&A) on draft guidance related to the implementation of the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs).

This Q&A addresses whether a parent entity that itself does not have public accountability may present its separate financial statements in accordance with the IFRS for SMEs if it is part of a group that is required (or elects) to present consolidated financial statements in accordance with full IFRSs.

Comments are due 4 April 2011. Click for: