IFRS Foundation reappoints members of the SME Implementation Group

25 July 2012


The Trustees of the IFRS Foundation have reappointed the current members of the SME Implementation Group (SMEIG) for a further two-year term ending 30 June 2014.

The SMEIG, an advisory body to the IASB, was set up in 2010 to support the international adoption of the IFRS for Small and Medium-sized Entities (IFRS for SMEs) and monitor its implementation. Members were given a renewable term of two years.

During the last two years the main responsibility of the SMEIG has been to consider implementation questions raised by users of the IFRS for SMEs and to develop proposed non mandatory guidance in the form of questions and answers (Q&As). More recently the SMEIG helped the International Accounting Standards Board (IASB) to develop the Request for Information which marks the first step in the IASB’s initial comprehensive review of the IFRS for SMEs.

The first task of the SMEIG in its second term will be to review and discuss responses to the Request for Information and to develop recommendations to the IASB for possible modifications of the IFRS for SMEs. The SMEIG plans to meet in public for the first time in the first quarter of 2013.

More information about the SMEIG, including the terms of reference and operating procedures of the group, is available at http://go.ifrs.org/smeig

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