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An event on innovation in smaller company reporting was held by ACCA (the Association of Chartered Certified Accountants) in London on 1 October.
 
This date marked the introduction of many relevant Companies Act 2006 changes and DEFRA issued guidance on how to measure and report greenhouse gas emissions.
 
Smaller companies are exempt from having their accounts audited and need only put the most basic financial information on the pubic record; but with the recession, many are finding that is not good enough for lenders and increasingly suppliers. The public and trade customers are also demanding to know more about a company's carbon footprint and other environmental impacts. This adds a solid business case to the desire of many company owners to become greener.
 
The debate, with participants from the Department for Business, Innovation & Skills, and Companies House, was informed by presentations from David Wilsdon, Green Accountancy, who spoke on Environmental Reporting for Smaller Entities, and Martin Williams, managing director, Graydon UK Limited, who examined Greater Transparency - the door to SME Credit and Finance.

Sara Harvey, ACCA Council member and chair of ACCA's Auditing Committee, chaired the event. Ms Harvey says: 'It was the right day to consider some really big issues and how companies should respond. Reporting laws and standards aim at larger entities but reporting for smaller companies is a matter of demand, not command.  It has to be recognised that good quality and timely information is needed in the current credit environment and to fuel expansion when things improve. ACCA, through its members, will be striving to put this message across.'

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For further information please contact:

Andrew Swailes, ACCA Newsroom +44 (0)20 7059 5823 +44 (0)7525 392535 andrew.swailes@accaglobal.com