SME Implementation Group publishes draft guidance for public comment
24 Feb 2011
Today, the SME Implementation Group published for public comment a question and answer document (Q&A) on draft guidance related to the implementation of the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs).
This Q&A addresses whether a parent entity that itself does not have public accountability may present its separate financial statements in accordance with the IFRS for SMEs if it is part of a group that is required (or elects) to present consolidated financial statements in accordance with full IFRSs.
Comments are due 4 April 2011. Click for:
- IASB press release (link to IASB website)
- Draft Q&A 2011/01 Use of the IFRS for SMEs in parent's separate financial statements (link to IASB website)
