ICAEW thought paper on SME accounting requirements

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22 Dec 2015

The Institute of Chartered Accountants in England and Wales (ICAEW) has published 'SME Accounting Requirements: Basing Policy on Evidence'.

The paper look into how, if at all, financial reporting by SMEs should be regulated. The report looks at the costs and benefits (not only to the reporting entity but to society as a whole) of regulating SMEs’ financial reporting. It analyses why SMEs may require a different regime from other businesses and also includes a summary of the research on this topic to date. The paper concludes that the evidence available to date is insufficient to develop policies that are soundly based, and that a substantial programme of research is needed.

An executive summary and the full research paper are available from the ICAEW website.

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