Nominations invited for new SME Implementation Group

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18 Mar 2010

The Trustees of the IASC Foundation have invited nominations for membership of the new SME Implementation Group (SMEIG).

The Terms of Reference and Operating Procedures of the SMEIG have also been released (available on the IASB's website http://www.ifrs.org/IFRS+for+SMEs/Implementation+Group.htm. The mission of the SMEIG is to support the international adoption of the IFRS for SMEs and to monitor its implementation. The SMEIG will have two principal responsibilities:
  1. to develop non-mandatory guidance for implementing the IFRS for SMEs in the form of questions and answers (Q&As) that will be made publicly available to interested parties on a timely basis, and
  2. to make recommendations to the International Accounting Standards Board (IASB) if and when needed regarding the need to amend the IFRS for SMEs.
The SMEIG will be chaired by Paul Pacter, the IASB's Director of Standards for SMEs. All members of the SMEIG will serve on a voluntary basis. The SMEIG may also include appointed observers who have the right to participate in SMEIG deliberations, but not to vote. Nominations and applications are invited by 30 April 2010. Click for Press Release (PDF 100k).

 

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