Introduction
"Worldwide, the single greatest challenge facing small and medium enterprises is access to finance, a problem that has only been exacerbated by the global financial crisis and correspondingly tighter credit conditions. By adopting IFRS for SMEs, however, small businesses will be able to provide potential lenders and investors with credible, standardised and transparent financial records, facilitating the extension of credit and benefiting the long-term diversification and stability of the domestic economy" (A press release from United Arab Emirates of Tuesday, March 23 - 2010.)