IFAC provides input to the IFRS for SMEs

The International Accounting Standards Board (IASB) expects to issue the final International Financial Reporting Standard for Small- and Medium-sized Entities (IFRS for SMEs), recently renamed IFRS for Private Entities, in early 2009.

The SMP Committee welcomes IASB consideration of further simplifications to the proposed standard suggested by the committee and supports the International Accounting Standards Committee Foundation's initiative to develop "train the trainer" materials to support its implementation. To view the exposure draft or for a project update, please visit "IASB Projects" in the "Current Projects" section of the IASB website (http://www.iasb.org).

Source: Small and Medium Practices eNews from International Federation of Accountants (IFAC)