Outdated EU rules causing problems for SMEs

Complex, outdated EU directives on accounting for SMEs are causing problems and need to be simplified was one of the key points of European Commissioner Charlie McCreevy’s speech at ACCA Ireland’s (Association of Chartered Certified Accountants) Business Breakfast at the Conrad Hotel this morning.

Commissioner McCreevy said: “Today, 99% of all EU enterprises are SMEs. Currently, 23 million SMEs are employing 75 million workers and account for more than 80% of employment in some industrial sectors, therefore playing a crucial role in our economy.