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In this podcast, Stephen Gustafson and Melissa Perry discuss the Australian Accounting Standards Board’s proposals around a revised differential reporting regime and the possible introduction of an ‘IFRS for SME’ Standard in Australia, including:

• how the AASB intends the new regime to work
• the main pitfalls and potential benefits from the proposals
• which entities will be most affected
• concerns around the AASB’s proposals and a suggested alternate approach.

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Related links:

• Accounting alert 2007/15 – our response to the AASB’s differential reporting proposals
• Accounting alert 2007/03 – an overview of the IASB’s exposure draft of ‘IFRS for SMEs’ and our initial analysis of the proposals from the Australian perspective.

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