Charlie McCreevy, the European Union internal market commissioner, yesterday urged the body that sets international accounting standards not to burden small private companies with overly complex reporting rules.
Echoing increasing concern among businesses, Mr McCreevy said he had one message for the International Accounting Standards Board: "Keep it simple. Increasing transparency in accounts is a worthy objective. But the price of this must not be excessive complexity, especially for SMEs (small and medium-sized enterprises)."
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