Financial Reporting by Quoted SMEs

Andrew Watchman ()
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Andrew Watchman: EFRAG

Chapter 10 in New Models of Financing and Financial Reporting for European SMEs, 2019, pp 117-131 from Springer

Abstract: Abstract This chapter considers whether a new accounting solution is needed to help achieve the Capital Market Union’s (CMU) ambitions for the successful development of the quoted SME sector. It is important to know the present state of play and of some of the various options for moving forward. The optic is IFRS-based and shall consider firstly whether IFRS is sufficiently scalable, and secondly whether the core information objective on which IFRS is founded is optimised for quoted SMEs. According to the CMU Action Plan, which seeks to make it easier for SMEs to list their shares on public markets, a new accounting solution could play a role in creating the conditions for future growth. From this point of view, a fair approach requires finding a balance between consumer protection, the decision usefulness of information for investors and a regulatory regime that is not excessively burdensome to SMEs. Financial reporting requirements are highly relevant; therefore, arguments for all quoted companies, including quoted SMEs, to use ‘full’ IFRS are considered.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-02831-2_10

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DOI: 10.1007/978-3-030-02831-2_10

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