Given the importance of small and medium enterprises at the national level by their essential role in the economy and the time passed since the issuance of the IFRS for SMEs standard it is still unclear what is the amount of financial information that users of SMEs need and which are the most useful informations for them. The aim of this research is to conduct a qualitative analysis regarding the answers received on the comment letters submitted to the first Comprehensive Review of the IFRS for SMEs 2012 and to show the significant contributions made by respondents on future recommendations for the development and review of the standard. The purpose is to study respondents’ comments received on the Request for Information and the extent to which these comments are valuable to future agenda of the standard. At the same time, the content analysis shows us what is the interest of the respondents regarding the modification of the standard in order to best fit the national context.

This research presents the findings of a content analysis of comment letters submitted to the International Accounting Standards Board in response to the second Comprehensive Review of the IFRS for SMEs. It is being investigated whether the parties' interest has increased since the first Request for Information was issued, whether the respondents are in agreement with the IASB regarding the alignment of IFRS for SMEs to full IFRS Standards, and what their arguments are in order to gain further insight into this review process. The study is based on comment letters sent directly to the IASB between January and October 2020. The analysis revealed that the main stakeholder groups that contributed were Professional organizations, Accounting Regulation Bodies and Accounting, audit and consultant firms, the same groups that also had a high response rate to the first request for information. Regarding the jurisdictions, there was a high interest from Europe but also from the countries that have already adopted the standard in South America.