ACCA statement on the EU decision on micro companies

ACCA, February 2010. The Association of Chartered Certified Accountants (ACCA) is disappointed at the European Commission’s decision to push for the abolition of the legal requirement for ‘micro companies’ to prepare and publish annual accounts on the grounds that it risks depriving stakeholders of information about companies’ financial status and undermining confidence in the financial viability of the small business sector.