Disclosure requirements for medium-sized companies and obligation to draw up consolidated accounts

A proposal on disclosure requirements for medium-sized companies and the obligation to draw up consolidated accounts, amending Directive 78/660/EEC. Amendments, citing the High Level Group on Administrative Burdens, set balance-sheet total, net-turnover and employee thresholds for exemptions and abridged balance sheets and notes, exempt small parent undertakings with immaterial subsidiaries from drawing up consolidated accounts, and repeal or replace several articles to reduce administrative burdens on companies.