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The QCA Financial Reporting Committee prepared this response to the ASB, arguing that both small fully listed companies and companies quoted on AIM and PLUS should be able to use IFRS for SMEs unamended rather than full IFRS as at present.  They have recognise that implementing such a change would require a change in the relevant EU regulation in respect of fully listed companies, but consider the ‘one size fits all’ approach to financial reporting by EU listed companies is not appropriate given the vast difference in market capitalisation and size between Europe’s leading global companies and smaller quoted entities.

Click here to read the response (pdf)

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