IFRS for SMEs in Guatemala

©image: Tezó & Asociados

On 13 July, 2010, Guatemala's official government newspaper published the agreement that brings into being the standard. The agreement is found in official note number JD 140042010 from the board of the Guatemalan Institute of Auditors and Public Accountants (IGCPA).

By implication, the description of an SME is now that defined in the corresponding IFRS standard for SMEs, which are companies that have no public accountability obligation. Any financial statements they publish are for general information.

Source: Tezó y Asociados

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