MP calls for co-op accounting red tape removal
MP calls for accounting and auditing red tape to be removed, putting them on par with other organisations
MP calls for accounting and auditing red tape to be removed, putting them on par with other organisations
PROPOSALS to put smaller co-operatives’ accounting and auditing ‘on par’ with other companies has been put to Parliament.
Adrian Bailey MP has tabled a bill to highlight the difference between co-ops’ accounting, and that other types of organisation.
He is calling for:
Bailey said in his speech to the house that the changes will give “further impetus” to the co-op business model, to help them achieve their “full potential”.
“I anticipate that these changes would benefit thousands of small co-operative societies around the country,” he said. The bill was supported in parliament, and will face its second reading in February 2017.
Ed Mayo, secretary general of Co-operatives UK, said that red tape held up smaller co-ops, and he was “delighted” Bailey had made the proposals.
“We look forward to seeing this bill move through parliament and, ultimately, make life easier for the thousands of small co-ops across the UK,” said Mayo.