The Irish Presidency has announced a success in the discussions on the simplification of accounting rules across Europe, to further improve the functioning of the single market. New measures will cut red tape for SMEs and increase transparency with inclusion of “country-by-country” reporting. The agreement secured on 9 April in Brussels on the Accounting Directive will further reduce red tape for European SMEs, according to Irish minister R. Bruton, current chair of the Competitiveness Council (see page 10 of 18-19 Feb session). "The Directive is one of the final outstanding parts of the Single Market Act I. One of the Directive’s key proposals is the simplification of accounting rules for SMEs. Among the measures contained in the draft Directive are the reduction of reporting requirements for SMEs and the introduction of an exemption from preparing consolidated financial statements for small groups." See also European Voice.
No comments:
Post a Comment