Smith has already called for plans to use video evidence to punish simulation since taking over at Hampden last summer.
"We had a good discussion, with Sepp Blatter (Fifa president) praising us for the initiative and a letter regarding this will now go to other world associations," he added.
"It will be then be down to each individual association as to what they decide to do and we'll take it foward.
"We will, if necessary, look at crucial incidents in matches such as red cards or penalties if a player has cheated. Then our committee could impose sanctions retrospectively."
Meanwhile, IFAB meeting has ordered a freeze on goalline technology trials.
They will, instead, will push ahead with experiments with two extra assistant referees standing behind each goalline.