PracticeConsultingSME standard proves popular.

SME standard proves popular.

A reporting standard for small businesses is proving very popular despite not being mandatory, according to research conducted by the Scots ICA.The Accounting Standards Board commissioned the institute to carry out the review to gauge if the Financial Reporting Standard for Smaller Entities is being used. Of 100 Scottish small companies, 43 had chosen to adopt the standard. The FRSSE was introduced in 1997 in a bid to consolidate and simplify reporting requirements for smaller companies.

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