Some jurisdictions have developed their own SME standards, but often these have serious limitations from the user’s perspective, are not readily understood by lenders and other capital providers, and are sometimes weakly enforced. If capital providers do not understand or have confidence in the financial information they receive, an SME’s access to capital funds, and ability to evaluate the cost of capital will suffer. The IFRS for SMEs, issued by the IASB in July 2009, responds to these concerns.