General-Purpose Financial Statements Now YOU Try 12.5 Assume that a company uses IFRS for SMEs as the starting point for its financial statements, then adjusts these statements to comply with requirements specific to its national taxing author- ity. The entity sends the financial statements to the taxing authority only. Using the definition of general-purpose financial statements, consider whether these financial statements would be considered general-purpose or special-purpose financial statements. Explain. Example based on IFRS Foundation's "Training Material for the IFRS for SMEs (version 2013-1)," Module 1, Page 8, Ex4