INTERNATIONAL

Accountancy SA,  Oct 2005  

• E-mail
• Print
• Link

IFAC COMMENTS ON IASB PROJECT ON ACCOUNTING STANDARDS FOR SMES

IFAC has responded to the IASB staff questionnaire on possible modifications of the recognition and measurement principles in IFRSs for use in IASB standards for SMEs. IFAC's preferred outcome for the SME project is a "substantialsimplification of IFRSs forSMEs, both in termsof disclosure and presentation as well as recognition and measurement."

The response sets out a package of simplifications that IFAC believes will "both serve the public interest as well as respond to the circumstances of SMEs and those external users interested in their general purpose financial statements. "The IASB questionnaire and all responses to it are available on the lASB's website (www.iasb.org). SAICA has also submitted comments to the IASB.

Contact Details

SAICA Standards Division

Technical roundup editor:

Tonia Jackson

Technical queries: standards@saica.co.za

Ethics & Discipline queries: karenl@saica.co.za

Information centre: pelmag@saica.co.za

Tel: 011 621 6641 Fax: 011 621 6819

Website: www.saica.co.za

PAAB

Queries: bagulhas@paab.co.za/ cjonker@paab.co.za

Tel: 011 6228533

Fax: 011 622 1536

Website: www.paab.co.za

Copyright South African Institute of Chartered Accountants Oct 2005
Provided by ProQuest Information and Learning Company. All rights Reserved