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Darrel Scott follows Paul Pacter as chairman of the SMEIG

  • IFRS for SMEs (mid blue) Image

Jan 29, 2013

The IFRS Foundation Trustees have announced that IASB member Darrel Scott will become the new chairman of the SME Implementation Group (SMEIG). He will replace Paul Pacter, whose term at the IASB ended on December 31, 2012.

The mission of the SMEIG is to support the international adoption of the IFRS for SMEs and to monitor its implementation.

Currently, the SMEIG is working with the IASB on the first comprehensive review of the IFRS for SMEs to assess the first two years of experience that entities have had in applying the standard. The next meeting of the SMEIG in this context is scheduled for the beginning of February.

The IFRS Foundation Trustees also approved changes to the Terms of Reference and Operating Procedures for the SMEIG that reflect the Trustees' decisions to expand the SMEIG to approximately 30 members and to stagger the members' terms. These changes will take effect as of July 1, 2014.

Click for the press release announcing the appointment of Darrel Scott (link to the IASB's Web site).

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