The only differences between the SFRS for Small Entities and the IFRS for SMEs
are:
a. where the IFRS for SMEs has a cross-reference to an IFRS, the Singapore
Financial Reporting Standard for SMEs has a cross-reference to the
corresponding SFRS; and
b. not all Singapore companies that meet the IASB’s definition of SMEs are
eligible to use the SFRS for Small Entities.