The
IASB has launched a comprehensive programme for field testing the proposals in the Exposure Draft of an International Financial Reporting Standard for Small and Medium-sized Entities during the comment period. The testing seeks to assess the scope, impact and burden of the proposed
IFRS for SMEs worldwide and will help to identify aspects of the exposure draft that may need reconsideration. The
IASB will focus on the potential operation of the proposals in smaller companies and organisations in emerging economies and developing countries.
“The field test demonstrates the Board’s commitment to developing a high quality set of accounting standards for smaller companies”, Sir David Tweedie, IASB Chairman, said. “We hope that the field test will suggest how we can improve our proposals and identify areas for further simplification, if possible”
Field testers are asked to submit their financial statements and questionnaire by 31 October 2007
Press release
The field test questionnaire
Compliance checklist
Field test document
© IASB - International Accounting Standards Board
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