RegulationAccounting StandardsIASB ‘on track’ with crisis response

IASB 'on track' with crisis response

Sir David Tweedie tells EU finance ministers IASB will deliver its response to the crisis by the end of 2009

Sir David Tweedie

The head of the International Accounting Standards Board Sir David Tweedie
has said the body is on schedule to deliver its response to the financial crisis
by the end of the year.

Speaking at a meeting for European Union finance ministers in Luxembourg he
conceded that ‘we have to do a better job of keeping you abreast of our
response to the crisis.’

Changes to the classification and measurement of financial instruments would
be ready for use by the end of the year. But proposals on making provisions for
financial assets and hedge accounting would not be delivered until next year.

Tweedie’s speech outlined his view that the crisis work was making good
progress but said he would work harder to keep EU finance ministers informed of
progress.

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