NEW YORK-The Small and Medium Practices (SMP) Committee announced on February 28, 2007 that it is in the process of developing a non-authoritative explanatory guide to the use of ISAs for SME audits.

 The Guide is designed to help practitioners around the world to understand, comply with, and apply ISAs on SME audits.  The SMP Committee plans to publish the Guide in the second half of 2007. 

International Accounting firms are invited to participate to review the draft of the guide.  The deadline for review is March 30, 2007. 

SMP Committee represents the interests of professional accountants operating in small and medium-sized practices and other professional accountants who provide services to small and medium-sized enterprises.