IFAC - suitability of proposed IFRS

The International Federation of Accountants (IFAC) SMP Committee has examined whether the proposed International Financial Reporting Standards for Small and Medium-sized Entities (IFRS for SMEs), developed by the IASB, are suitable for micro-entity financial reports. The report “Micro-Entity Financial Reporting: Some Empirical Evidence on the Perspectives of Preparers and Users” is based on focus group interviews of users and preparers of micro-entity financial reports in Italy, Kenya, Poland, Uganda and the United Kingdom. It is available from the IFAC bookstore.