FRSSE withdraw

FRC withdraws FRSSE, consults on standards for small entities

 

The Financial Reporting Council (FRC) plans to issue a new accounting standard for micro-entities and to withdraw the existing Financial Reporting Standard for Smaller Entities (FRSSE) following changes in EU law which mean small companies need to include less information in their accounts and make fewer mandatory disclosures say Harris & Co accountants Northampton #accountantsnorthampton. As specialist small business accoun tants, Harris & Co come across the FRSSE all the time as it is specifically designed for small businesses. "It was well past its sell by date, so scrapping it was long over due," says Sarah Buswell