QCA responds to BIS: Consultation on Audit Exemptions and Change of Accounting Framework

The Quoted Companies Alliance has responded to the Department for Business Innovations and Skills consultation paper on audit exemptions and change of accounting framework. The response outlined that small and mid-cap quoted companies are looking for reductions in the cost of doing business within the UK and that there will be no additional risk to investors. Also highlighted, the need for the Government to exempt dormant subsidiaries of whatever size from mandatory preparation, mandatory filing and mandatory audit of accounts.