On August 4, 2006, the International Accounting Standards Board (IASB) has posted on its website the latest Exposure Draft (ED) prepared by staff for the IASB’s project to develop an International Financial Reporting Standard for Small and Medium-Sized Entities (SMEs).
The project is on going and the draft posted is considered a work in progress, it is not a final product. Further changes, some of which could be substantial, will be made to the draft before the IASB publishes it for public comment. The IASB has discussed earlier drafts of the ED at public meetings. The draft reflects the cumulative, and tentative decisions made by the conclusion of its meeting in July 2006.
IASB is committed to develop in the public interest, a single set of high quality global accounting standards.
For more information please visit the following website: www.iasb.org