Directors' views on accounting and auditing requirements for SMEs

This research was commissioned by the Department for Business, Enterprise and Regulatory Reform, to contribute to strategic priorities in connection with better regulation and reducing administrative burdens. The aims were to investigate the directors‘ views on present accounting and auditing requirements for SMEs in UK company law and draft simplification proposals made by the European Commission in July 2007; and to identify changes in the financial reporting practices of companies that had participated in a previous study commissioned by the then DTI (Collis, 2003), which focused on issues in connection with raising the audit exemption thresholds.