Publications
BackIn October 2011, the Commission presented a new draft Directive, in which the financial reporting standards for small and medium-sized entities of the current 4th and 7th Directive shall be revised and consolidated.
The objectives named included the reduction of administrative burden on companies that are relatively small in size, the creation of more clarity and the improvement of comparability of enterprises, the protection of essential needs of users - in particular the provision of accounting information required - and finally the increase of transparency with regard to payments to governments by the extractive industry and loggers of primary forests.