FRC WITHDRAWS FRSSE

摘要

The Financial Reporting Council (FRC) plans to issue a new accounting standard for micro-entities and to withdraw the existing Financial Reporting Standard for Smaller Entities (FRSSE) following changes in EU law which mean small companies need to include less information in their accounts and make fewer mandatory disclosures. The FRC will also introduce a new section into FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland for small entities, proposed for those turning over less than £10.2m.