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list and describe the three types of non reporting entities ? writing by your owns words...

list and describe the three types of non reporting entities ? writing by your owns words please

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A non-reporting entity is where those charged with governance have determined that there are no users dependent on a GPFR. In this situation, a non-reporting entity is permitted to prepare a special purpose financial report and not a GPFR.Examples of a non-reporting entity include private companies with a small number of shareholders all of whom are employed in the management of the business, not-for-profit associations and very small private companies.

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