Evans et al., (2005) concluded that the IASB should develop IFRS-SME, but that they should not base the standard on the full IFRS framework, which was developed for public companies, and is not appropriate for SMEs. The standards should, instead, be based on user needs. Other academics share this view (Nerudova & Bohusova, 2008). The IASB did not take this recommendation into account when creating the IFRS-SME. It is based on full IFRS and the IFRS framework (Pacter, 2009).
European Union research considering IFRS-SME has been published. Eierle & Haller (2009) reported on their questionnaire study conducted in Germany. The questionnaire asked company directors whether they thought international comparability was needed for SME financial reports. Around half of the respondents didn’t think this was important, despite the majority of the respondents stating that importing and exporting were important for their business.