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Timing of the next review of the 'IFRS for SMEs' Standard

Date recorded:


The aim of the session is to ask the Board whether an interim review of the IFRS for SMEs Standard should commence this year in advance of the next comprehensive review which is expected to start in early 2019. The interim review will consider:

  1. The fallback to IAS 39;
  2. Changes to full IFRS Standards that have not yet been incorporated in the IFRS for SMEs Standard; and/or
  3. Other urgent issues.

The Board will not be asked for their views on what the interim review should consider; they will be asked merely on the timing of when to consider making these changes.

Staff recommendation

The Staff recommends that no interim review should be performed based on cost/benefit reasons.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.