The following principles are applied in determining disclosures under Tier 2:
(a) drawing directly on the IFRS for SMEs when Tier 2 recognition and measurement requirements are the same as those under the IFRS for SMEs; and
(b) using the ‘user need’ and ‘cost-benefit’ principles applied by the IASB in developing its IFRS for SMEs when Tier 2 recognition and measurement requirements are not the same as those available under the IFRS for SMEs.
For further explanation of the above principles, click here.