Bhatia, Satinder (2018) Conceptualizing an IFRS-based Criteria for Audit Exemption for Small Firms. Journal of Economics, Management and Trade, 21 (10). pp. 1-10. ISSN 24569216
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Abstract
Criteria for audit exemption for small firms has varied greatly from country to country. Turnover-based criteria are now being combined with other parameters such as balance sheet total and number of employees in countries where mandatory audits are the norm. While some progress towards harmonization of such criteria has taken place in the EU, debate on this issue is still not widespread. At the same time, voluntary audits are also gaining ground and there has been sufficient debate in literature on the costs and benefits of such audits, particularly for small firms. Yet, the criteria for audit exemption for small firms remains disparate. This paper looks at integrating the definition of small firms under IFRS for audit exemption. Since India has moved closer to IFRS with the issuance of Revised Indian Accounting Standards (Revised Ind AS) in 2016, debate on such integration would be useful.
Item Type: | Article |
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Subjects: | Librbary Digital > Social Sciences and Humanities |
Depositing User: | Unnamed user with email support@librbarydigit.com |
Date Deposited: | 24 Apr 2023 06:42 |
Last Modified: | 31 Jul 2024 13:54 |
URI: | http://info.openarchivelibrary.com/id/eprint/457 |