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IFRS for SMEs: A Summary from SAICA

  • IFRS for SMEs (mid blue) Image

08 Sep 2009

The South African Institute of Chartered Accountants (SAICA) has published IFRS for SMEs: A Summary – a 26-page overview of the IFRS for SMEs.

On 13 August 2009, South Africa became the first country in the world to adopt the IFRS for SMEs. It is effective immediately for all entities that are not publicly accountable and that do not elect to follow full South African standards, which are identical to full IFRSs. SAICA's new overview includes a 'bullet point' summary of each of the 35 sections of the IFRS for SMEs. It was prepared jointly by SAICA and W Consulting. We are grateful to them for giving us permission to post it on IAS Plus.

 

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