Risk & Regs
Time for a new standard
Many large organisations have provisions in place and are now switching their focus to the critical suppliers, infrastructure and services on which th...
Technical Update: IAS 16 Impact on Water Companies
It became apparent early on that International Accounting Standard (IAS) 16 would cause difficulties for water companies that adopt renewals accountin...
Technical Update: Operating and Financial Reviews
The Accounting Standards Board's (ASB) approach to the Operating and Financial Review (OFR), which rejects a rigid standard template for narrative rep...
Why more information will only cloud the issue
The accountants' much-awaited day, January 1 2005, arrived seemingly uneventfully. It may have signalled a new dawn but there is not much daylight yet...
More to OFRs than box-ticking
OFRs should cover a discussion of the characteristics of the market in which the business operates, details of the company's position within that mark...
Technical Update: IFRS Impact on Financial Covenants
Europe's finance directors, grappling with multiple convergence considerations following the introduction of International Finance Reporting Standards...
International Power slams Sarbanes-Oxley extension
Mark Williamson, chief financial officer at the group, which is expected to be promoted to the FTSE 100 at the next quarterly review on March 21, says...
IFRS threatens Cobham hedging policy
Under the new rules IAS 32 and 39, relating to the use of financial instruments, a broad hedging strategy against currency fluctuations will not be pe...
Technical Update: EU Transparency Directive and IAS 34 - Interim Financial Reporting
In the previous century, about five years ago, interim reports were relatively simple documents. On two sides of paper, a company could give the requi...
Technical Update: IAS 31 - Interests in Joint Ventures
Joint ventures are widely used for conducting business, particularly within certain sectors such as property and the extractive industries.
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The Bottom Line:If Mr Cable has his way...
"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more