Make IFRS for SMEs available in UK 'almost immediately'

  • IFRS for SMEs (mid blue) Image

20 Nov 2009

In an article titled Decision Time published in CA Magazine, Deloitte UK partner Isobel Sharp argues that the United Kingdom and Ireland should make the IFRS for SMEs available almost immediately.

The UK Accounting Standards Board has already indicated its intent to replace UK Financial Reporting Standards with the IFRS for SMEs, effective in 2012. "Perhaps only a few would change in 2010," she writes, "but it would be their choice. On the ASB timetable an exposure draft is due to be issued in 2010, with the standard following in 2011, only a matter of months before the January 2012 implementation date.... The techies may be relied on to raise the tedious. But are there any real hurdles? In short, the only question is 'What is best for business?'" Click for Decision Time by Isobel Sharp (PDF 309k).


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