IFRS for Small and Medium-sized Enterprises (SMEs)
IFRS for SMEs was the IASB's most laborious project to date and was always controversially discussed. It was concluded on 9 July 2009 with the publication of the IFRS for SMEs. According to the IASB, it succeeded in creating an independent framework of (only) 230 pages, tailored in particular to the needs and abilities of smaller enterprises. In the opinion of Dr. Thomas Senger, internationally active medium-sized enterprises should be eager to understand the IFRS' regulations for SMEs assuming these will become globally mandatory in many countries or may be employed optionally.
(Source: WPg - Die Wirtschaftsprüfung, July 2009)