DTI report: Curb off-balance sheet reporting
The International Accounting Standards Board has been urged to work hard on finding measures to 'curb' off-balance sheet reporting, the practice that brought about the disastrous collapse of Enron.
Link: Read the full report on Hewitt?s speech
The message, coming as part of the Final Report of the Co-ordinating Group on Audit and Accounting Issues, in which a call was made to the European Union to adopt international accounting standards into European law as soon as possible.
The call is a clear signal to the EU that the UK wants to see no wavering from the plan to switch fully to international accounting standards by 2005.