PracticeAccounting Firms‘IAS deadline is still achievable’

'IAS deadline is still achievable'

Peter Wyman, the president of the ICAEW, says getting all EU companies to adopt international accounting standards by 2005 can still be achieved.

Link: IASB seeks public opinion on new standards

In a letter published in the Financial Times today, Wyman said the hold up to the endorsement of IASs by the European Commission was ‘regrettable’, but, he hoped it was only ‘temporary’ set against the ‘scale of the task before the Commission’.

He added: ‘A short delay to achieve consensus among members states is a price worth paying.’

According to Wyman, the timetable for adoption of international accounting standards remained tight but achievable.

But he warned the Commission should ‘guard against further loss of momentum’.

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