IASB consults on SME accounting standard

The International Accounting Standards Board (IASB) has published a questionnaire on possible modifications of the recognition and measurement principles in IFRS for use in IASB standards for Small and Medium-sized Entitities (SMEs.)

The board is looking for answers to two questions only:

What are the areas for possible simplification of recognition and measurement principles for SMEs?; and

Which topics addressed in IFRSs might be omitted from SME standards because they are unlikely to occur in an SME context?