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Wednesday 07 December 2016

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IFRS Foundation invites applications for new members to the SME Implementation Group

 28 January 2016


The Trustees of the IFRS Foundation invite applications from, and nominations of, suitable candidates for membership of the SME Implementation Group (SMEIG).

The SMEIG was established to support the international adoption of the IFRS for SMEs and monitor its implementation.  It has two principal responsibilities:

  1. to develop non-mandatory education guidance for implementing the IFRS for SMEs in the form of questions and answers (Q&As) that are made publicly available; and
  2. (to make recommendations to the International Accounting Standards Board as and when required regarding any need to amend the IFRS for SMEs.

Up to 14 new members are being sought to replace the members retiring in June 2016 and to fill the current vacancies.  New members would serve three-year terms, starting on 1 July 2016.

The SMEIG consists of up to 30 members who are selected for their knowledge of, and experience in, financial reporting by SMEs.  It is also preferable that they have knowledge of, and direct experience with, the IFRS for SMEs.  Suitable candidates typically include accountants working in SMEs, auditors in small or medium-sized public practices, and bank lenders and other users of financial statements of SMEs.  The IFRS Foundation aims to maintain a reasonably broad geographical representation among the members of the SMEIG.

All members of the SMEIG will serve on a voluntary, unpaid basis.  The SMEIG also includes appointed observers who have the right to participate in SMEIG deliberations, but not to vote.  

Applications are invited by 28 February 2016 to sme@ifrs.org.  Candidates should explain their own or their nominee’s knowledge and experience in the financial reporting of SMEs and submit any additional material they consider relevant to support their submission.

Further information about the SMEIG, including the Terms of Reference and Operating Procedures for the SMEIG, can be found here.

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Press enquiries:
Kirstina Reitan, Head of Communications, IFRS Foundation
Telephone: +44 (0)20 7246 6960
Email: kreitan@ifrs.org

Technical enquiries:
Michelle Fisher, Senior Technical Manager, International Accounting Standards Board
Telephone: +44 (0)20 7246 6918
Email: mfisher@ifrs.org