1.6 National & company law Flashcards
1
Q
What specific accounting rules does the CA 2006 set out?
A
Accounts must be prepared under either:
- IFRS as adopted for use in the EU
- under UK accounting standards and more detailed legal requirements.
2
Q
Which standard must UK listed and AIM companies follow in their group accounts?
A
IFRS
3
Q
What arguments have been made against the incorporation of EU legislation into CA 2006?
A
CA 2006 has simplified certain aspects while making others complex and confusing, making it harder for smaller companies in particular to do business.
4
Q
What key factors about a company affect how it is regulated by the CA 2006? (5 things)
A
- traded vs non-traded
- quoted vs unquoted
- public vs private
- micro, small, medium or large
- public interest vs non public interest entities.
