News
IFRS Foundation appoints new members to the SME Implementation Group
25-Jul-2016
LONDON - The IFRS Foundation today announced the appointment of 11 new members to the Small and Medium-sized Entities Implementation Group (SMEIG), effective 1st of July 2016.
The SMEIG is an advisory body to the International Accounting Standard Board (the Board). Its mission is to support the international adoption of the IFRS for SMEs® Standard and to monitor its implementation.
The SMEIG’s two main responsibilities are:
1. To consider implementation issues raised by small and medium-sized entities (SMEs) and other interested parties and develop proposed guidance in the form of non-mandatory questions and answers (Q&As); and
2. To consider issues and make recommendations to the Board on the need to amend the IFRS for SMEs Standard.
The SMEIG was set up in 2010 by the Trustees of the IFRS Foundation following a public call for nominations. On 30th of June 2016, the third and final term of 10 of the 26 existing SMEIG members will come to an end. With effect from 1st of July 2016, 11 new members have been appointed for a three-year term. The other 16 SMEIG members are part way through their first term.
The new appointments were made by reference to the qualifications of the individual applicants and the desire to achieve a professional and geographical balance in the SMEIG’s membership.
Membership of the SMEIG is personal; this means that members participate and vote in accordance with their own independent views, not as representatives voting in accordance with the views of their associated firm, organization or constituency.