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Decade-old financial reporting threshold set to double

About a third of large proprietary companies will no longer be required to comply with financial reporting and audit requirements under the government’s proposal to double the reporting thresholds.

In a joint release, Treasurer Josh Frydenberg and Minister for Small and Family Business, Skills and Vocational Education Michaelia Cash announced that the government would be raising the financial reporting thresholds in a bid to save small and medium business more than $300 million over the next four years.

Read the full article at Accountants Daily.

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