The purpose of the reduced disclosure regime due for implementation in 2013 is to:
A)ensure that all entities reduce the volume of disclosure notes to the financial statements
B)enable Tier 1 entities to reduce the volume of disclosure notes to the financial statements
C)enable Tier 2 entities to reduce the volume of disclosure notes to the financial statements
D)ensure that all entities reduce the number of financial statements produced

Question

Quizplus · Accepted Answer

The reduced disclosure regime is designed to allow Tier 2 entities, which are typically smaller or less publicly accountable entities, to reduce the volume of disclosure notes in their financial statements, making reporting less burdensome while still providing necessary information.

The Purpose of the Reduced Disclosure Regime Due for Implementation