IASB: No new rules before 2009
Accounting board announces breathing room before new rules implementation
The International Accounting Standards Board has announced a moratorium on
new rules implementation until 2009.
The body, which was responsible for developing controversial International
Financial Reporting Standards, said today that it would not require the
application of any standards currently under development until January 2009.
IFRS have proved unpopular amongst many, who say they make accounts less
comprehensible to investors, amidst a sense of compliance fatigue over new
rules.