IFRS Foundation Issues Draft Guidance for SMEs

June 30, 2017

The International Financial Reporting Standards (“IFRS”) Foundation is requesting feedback related to its draft guidance regarding the IFRS for SMEs (small and medium-sized enterprises) Standard. Announced in a June 26 press release, the draft guidance is in a question-and-answer format and was authored by the SME Implementation Group. The draft guidance includes answers on how a parent company should disclose a financial guarantee in its financial statements.

Comments on the draft guidance are due Friday, September 1.