The IASB has announced that it intends to embark on an active research project on the application of international accounting standards to small and medium sized entities and in emerging economies. The Board intends to work with the IASB on this project and hopes to pass on its experience from developing the FRSSE. It is pleased that Isobel Sharp, Chairman of CASE, has been appointed by the IASB to its new SME Advisory Board.

CASE has also been considering the implications of a ‘one-shop stop’ FRSSE, which would be a single reference point that incorporates the requirements both of accounting standards and of legislation. This would provide a single set of accounting requirements for small companies to follow.