ACCA admits the EU movement to minimize the regulatory impact on SMEs

The Association of Certified Accountants (ACCA) is allowing to support the simplification of the regulatory procedures for small and medium enterprises (SME) within the European Union (EU).

The professional agency has responded to a consultation of the European Commission on the 28th proposed regime: the European Innovation Law, which seeks to introduce an optional set of regulations throughout the EU designed to benefit companies.

ACCA has supported the commission’s efforts to rationalize regulations, emphasizing the importance of reducing loading companies to facilitate their growth and allow them to explore new markets and improve cross -border trade.

The association has identified the raising of the SME sector as a critical priority for the EU, advocating an association approach where companies receive support in their investment in the development of workforce skills.

This strategy is considered vital to boost significant green and digital changes that are restructuring the economic panorama.

One of the challenges highlighted by ACCA is the skills gap with which many European companies are currently dealing.

The accounting agency recommends that the Commission address this by facilitating administrative burden related to training and recognition of professional qualifications in the Member States.

In doing so, CE could facilitate companies to address their skill needs and improve their operational efficiency.

The Regional Chief of Public Affairs of ACCA, Vikas Aggarwal, said: “So that the CE satisfies its desired objectives of the 28th regime, the framework must ultimately influence the trust and service of business needs.

“It must promote the consistency and coordination between the Member States, including facilitating a financial system that provides confidence and services the needs of companies when carrying out transactions to each other.”

The regional leader of Politics and Insights of ACCAEEMA, Joe Fitzsimons, declared: “A 28th regime must complement initiatives such as the EU Start and Scale Strategy that are already underway.

“Reducing the shortage of skills, which ACCA has stood out in our global talent trends survey, is that the CE promotes cross -border recognition of grades through the dissemination of guidance and examples of best practices.”

This follows ACCA’s collaboration with the United Kingdom’s Minister Jacqui Smith and Skills England, with the aim of improving the capacities of the workforce within the United Kingdom.

“ACCA admits the EU movement to minimize the regulatory impact on SMEs” was originally created and published by the accountant, a brand owned by Globaldata.