Why are micro entities dealt with separately from other companies within the scope of the Fourth Directive[1]?
The reporting needs of micro companies are fundamentally different from those of larger companies. Although the Directives contain exemptions for small and medium-sized companies from certain obligations, overall, these are often still subject to the same rules as larger companies. Complexity and wide scope of the Accounting Directives’ requirements have led to extensive costs which divert resources from the core business activities of small companies. Consequently, the economic burden on the smallest enterprises is disproportional as compared to the larger enterprises. The Commission proposal can be found on: http://ec.europa.eu/internal_market/accounting/news/index_en.
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