UK - IFRS for SMEs to be used by 35 countries within three years

Developing and emerging nations are calling for the adoption of international accounting standards for small businesses, according to a straw poll by the International Accounting Standards Board (IASB). Support from 35 countries is expected to pressure developed nations, many in Europe, to accept rules proposed by the IASB within three years. (Read the article SME standards set for adoption across the globe at Accountancy Age online.)