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26 Apr 2011
THE ASSOCIATION of British Insurers has come out in support of extending the deadline for International Financial Reporting Standards convergence.
One of the outstanding accounting standards relates to insurance contracts, and the organisation said "the extra time will help address the remaining issues fully", insisting: "It is essential that the new standard is of a high quality."
Further reading
The International Accounting Standards Board recently announced it is abandoning the June deadline for completion of three of the most contentious projects, including accounting for financial instruments, leasing and revenue recognition.
Describing progress as "substantial", the International Accounting Standards Board pointed to the most recent G20 statement on accounting standards, which called for the process to be completed before the end of 2011 - rather than an earlier target of June.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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