Proposed Revised Differential Reporting Regime for Australia and IASB Exposure draft of a Proposed I

  • Date:30 Aug 2007
  • Type:Policy & Advocacy: Submission

AICD supports the removal of the existing requirement for unlisted SMEs to comply with full International Financial Reporting Standards. The proposed IFRS for SMEs is too still far too complex for small unlisted entities. The reporting entity concept should be retained. AICD believes that it is incumbent on the Australian Accounting Standards Board to publish an analysis of the regulatory impact of the proposed changes as part of its consultation process.

Differential Reporting And IFRS for SMEs