IASB Posts “Staff Draft” of SME ED

August 4, 2006

FEI Summary

On Aug. 4, 2006, the International Accounting Standards Board (IASB) announced it had posted a “staff draft” of the latest version of its Exposure Draft (ED) for its project to develop International Financial Reporting Standards (IFRS) for small and medium-sized entities (SME’s). IASB is not seeking public comment on the staff draft, but will seek comment at a later date when it issues an ED. The staff draft has not been approved by the IASB board and has been made publicly available to give interested parties an update for informational purposes only.