Harmonization of Accounting Standards withing the Caribbean & the ...
Harmonization of Accounting Standards withing the Caribbean & the ...
Harmonization of Accounting Standards withing the Caribbean & the ...
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January 2005 Board53Providing solutions that countDecisions• The Board decided, inter alia, , that• IASB <strong>Standards</strong> for SMEs will focus on financialreporting by those non-publicly accountableentities that have external users <strong>of</strong> <strong>the</strong>ir financialstatements (ieusers o<strong>the</strong>r than owner-managers).This is because <strong>the</strong> IASB Framework for <strong>the</strong>Preparation and Presentation <strong>of</strong> FinancialStatements (<strong>the</strong> IASB Framework) does not dealwith management reporting or regulatoryreporting. Jurisdictions could, <strong>of</strong> course, chooseto permit or require <strong>the</strong>m for all SMEs, , includingvery small ones.David Raggay June, 2005
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