This paper presents the findings of focus group interviews on whether the proposed International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs), developed by the International Accounting Standards Board, is suitable for micro-entity financial reporting.

This information paper presents the findings of research into the preparers, users, and user information needs of micro-entity financial reports. The Small and Medium Practices Committee hopes the paper will inform the debate on whether the proposed International Financial Reporting Standard for Small and Medium-Sized Entities will suit micro-entities.