Submission on Discussion Documents Regarding the Statutory Framework for Financial Reporting
- We support the recognition that the benefits of financial reporting need to be weighed against the
associated compliance costs. The reporting requirements and assurance requirements should vary depending on both size and nature of the entity.
- We believe that the proposed lower threshold of $20,000 is simply too low, and will result in difficulties for many well functioning Churches and other organizations who are currently operating in the $20,000 to $150,000 range.