SME Implementation Group (SMEIG)
The mission of the SME Implementation Group (SMEIG) is to support the international adoption of the IFRS for Small and Medium-Sized Entities (IFRS for SMEs) and to monitor its implementation.
The SMEIG has two principal responsibilities:
- to develop non-mandatory guidance for implementing the IFRS for SMEs in the form of questions and answers (Q&As) that will be made publicly available to interested parties on a timely basis, and
- to make recommendations to the International Accounting Standards Board (IASB) if and when needed regarding the need to amend the IFRS for SMEs.
The SMEIG is chaired by IASB member Darrel Scott. All members of the SMEIG serve on a voluntary basis.
The SMEIG may from time to time also include appointed observers who have the right to participate in SMEIG deliberations, but not to vote.