The International Accounting Standards Board met in London on 14 - 18 April, when it discussed IFRS for small and medium-sized entities and other related developments.

The discussion of the SME project was educational, and no decisions were made. The objective was to present the findings of the field testing carried out on the exposure draft (ED) of a proposed IFRS for SMEs. At the meeting the staff gave an overview of the demographics of the field testing sample and some of the main problems encountered by the field testers. At a future meeting, staff will make recommendations to the Board for changes based on comments received on the ED and field test results.

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