Small and Medium-Sized Entities (SMEs) and Emerging Economies

Date recorded:

The IASB staff reported that an Advisory Group has held its first meeting and that several meetings have been held with SMEs. Among the issues being considered are (a) whether to add special standards for SMEs to existing IAS and IFRS or to publish a separate comprehensive IFRS for SMEs; (b) which disclosures might be simplified or eliminated for SMEs; and (c) whether differential recognition and measurement standards are appropriate.

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