SMPLIFIED DIRECTIVES SHOULD BE PRINCIPLES-BASED

摘要

The institute has urged the European Commission not to adopt a prescriptive approach in its proposals for simplification of the EU accounting directives.rnIn its response to the commission's recent consultation paper, it says that the most effective simplification would be achieved by setting out a basic framework of principles and a list of the key requirements applicable to small, medium and large companies. Anything beyond the essential requirements, it adds, can be dealt with at standard-setting level.