The participants were asked whether they are aware of IFRS for SMEs adoption
process. Remarkably, most of them are aware of the IFRS for SMEs adoption
process and know that the implementation of this standard set will be mandatory
for SMEs starting from the beginning of 2013 (95.71%) (Figure 1). This finding
shows that accounting professionals are informed about the adoption process of the
IFRS for SMEs in Turkey. Awareness of the related parties, such as entities,
professionals, academicians, and all of the other stakeholders, have a vital role in
an effective and successful adoption process. Coordination and communication of
those parties will ease the transition process to the IFRS for SMEs.