FRS 17 receives a boost in credibility

The Society of Investment Professionals, which represents around 4,000 investment managers and analysts, has said the accounting rule is the only fair way to inform investors, employees and other interested parties of a company’s financial position.

The investment group said: ‘If there are concerns about the figures that are produced by this accounting standard, then they are reactions to a reality that must be assessed and not ignored,’ the FT reported.

SIP is the UK member of the Association for Investment Management and Research, an international, non-profit organisation of investment practitioners and academics. SIP oversees the UK benchmark examination for individuals managing investment portfolios.

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