Link: IAS special report
A study by Merrill Lynch suggested that if 2003 results were compiled under IAS, adjusted earnings per share might fall at 17 European banks, including five of the UK’s biggest banks.
Royal Bank of Scotland and Lloyds TSB could see falls of 6.9%, HSBC 4.1%, HSBOS 3.8% and Barclays 3.2%, The Financial Times reported.
By contrast some banks could see adjusted EPS grow under the new accounting standards, with Abbey National in line for a spectacular 41% boost to the indicator.
John-Paul Crutchley, an analyst at Merrill Lynch, was quoted as saying the findings were based on assumptions and came with a ‘health warning’. He suggested that IAS would lead to greater earnings volatility.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.