The Technical Committee of the Association of Corporate Treasurers said it supported an orderly transition from existing UK standards to international accounting standards. ‘It is for this very reason that the ACT believes the best interests of UK listed companies would be served through FRED23 not being applied and for companies to move direct to IAS39 in accordance with the European timetable rather than that proposed by FRED23’, it said. In its response to the Accounting Standards Board (ASB), the ACT states that it does not ‘see any sense’ in listed companies implementing FRED23 when the implementation of IAS39 will follow on so soon afterwards. If FRED23 were issued in January 2003, there would be at least a six-month period before its adoption, in say July 2003. Listed companies will need to have made preparations for the implementation of IAS39 from 2004. Therefore, for listed companies, the ACT believes that it is more logical to move straight to IAS39 implementation, rather than to adopt FRED23 approximately six months earlier.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.