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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 28 September 2011 the draft Q&A Application of the IFRS for SMEs for financial periods ending before the IFRS for SMEs was issued.
The draft Q&A considers whether an entity can apply the IFRS for SMEs for periods ending before the IASB issued the IFRS for SMEs. It is stated in the response that an entity can do so according to the standard, but local regulation may prohibit it.
On 4 October 2011 EFRAG issued its draft comment letter in response to the Q&A.
On 30 November 2011 EFRAG issued its final comment letter in response to the Q&A.
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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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Draft Comment Letter
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Efrag Output
Comment Letters
Other Input
No 'Other Input'
News Items
No 'Linked News Items'
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