Financial statement users having easier access to information is a reason for the development of Accounting Standards for Private Enterprises (ASPE).

Question

Quizplus · Accepted Answer

The development of Accounting Standards for Private Enterprises (ASPE) was partly to provide a simplified, cost-effective set of standards for private companies, making financial information more accessible and understandable for users who do not require the complexity of International Financial Reporting Standards (IFRS).

Financial Statement Users Having Easier Access to Information Is a Reason