Small and Medium-sized Entities

09 November 2006

The International Accounting Standards Board has posted the latest staff draft of an exposure draft of an International Financial Reporting Standard for Small and Medium-sized Entities (SMEs). The draft is posted as two files. One contains the draft IFRS and a draft Invitation to Comment. The other contains draft implementation guidance in the form of Illustrative Financial Statements and a Disclosure Checklist. The Board has not completed its consideration of the text, and further changes will be made to this draft before the Board publishes the exposure draft for public comment later this year.

The IASB has not approved this draft. It is being made publicly available solely to keep interested parties up to date with progress on the project. The IASB does not request comments on this draft, and the staff will not be in a position to consider or respond to any comments.

Click here for more information and copies of both drafts.