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Editor's letter - What's the ASB's job after 2005.

Europe Intelligence Wire

| October 01, 2003 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Financial Director)

It has been on the cards for years now; at last the compulsory adoption of international accounting standards is acquiring all the drum-banging and bandwagon-rolling that accompanied the crescendo in the run-up to the launch of the euro and the dawn of Y2K. Like both of those previous deadline-critical missions, the approach of IASs is accompanied by a growing chorus of vendors, consultants and advisers warning that it's still possible to beat the deadline, but that there's no time to waste.

They're right, of course, though the "deadline" is one that can be fudged.

But failure to think about the issues in plenty of time could result in businesses adopting the wrong hedging strategy or having inadequate distributable reserves on dividend day, thanks to the expected volatility in IAS profits.

Next month's issue will feature an interview with AstraZeneca FD Jonathan Symonds. Symonds will shortly become chairman of the highly influential (but massively low-profile) Hundred Group of Finance Directors, a ...

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