The AASB proposal and red tape reforms

The AASB proposal and the Federal Government’s red tape reforms  - BDO's Wayne Basford discusses the effect on business with Sky Business News.

• What exactly is ED178? Who does it impact, and what are the costs associated with meeting this standard?
• Is there a sense that SMEs are following the rule, is there a level of avoidance?
• What's been the reaction from the SME community to this new standard - is there any political support to ease the burden on them from it?
• What can SMEs do to ease the burden of rising costs associated with meeting reporting standards?
• Are there any other issues in the pipeline that could impact SMEs?