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Comments-"Proposed amendments to the International Financial Reporting Standard for Small and Medium-sized Entities"

Grant Thornton International Ltd comments on the International Accounting Standards Board's (IASB's) Exposure Draft (ED) 2013/9, "Proposed amendments to the International Financial Reporting Standard for Small and Medium-sized Entities (SMEs)."

We broadly support the proposals in the ED, the most significant of which relates to the taxation section. We agree with the proposal to align requirements of the IFRS for SMEs with those in IAS 12 Income Taxes, although we note that IAS 12 is itself a complicated standard that merits board review. We expand on this point in a response.

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