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Description :
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The IFRS Foundation’s SME Implementation Group, which assists the IASB in supporting the implementation of the IFRS for SMEs, published on 14 April 2011 the draft Q&A Investment funds with only a few participants.
The draft Q&A considers whether the criterion ‘broad group of outsiders’ means that investment funds or similar entities that restrict their ownership to only a few participants are not publicly accountable according to paragraph 1.3(b) of the IFRS for SMEs. Although it is not explicitly mentioned in the draft Q&A, the draft Q&A seems to specify that investment funds or similar entities that restrict their ownership to only a few participants are not publicly accountable under paragraph 1.3(b) of the IFRS for SMEs.
On 21 April 2011, EFRAG issued its draft comment letter in response to the draft Q&A, and on 15 June 2011 it submitted its comment letter to the SMEIG.
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Working groups :
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EFRAG Technical Expert Group (EFRAG TEG) -
SME Working Group (SME WG) -
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Current Project Status :
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Final Comment Letter
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Efrag Output
Comment Letters
No 'Comment Letters'
Other Input
No 'Other Input'
News Items
No 'Linked News Items'
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