AT A CROSSROADS: PANEL TO START REVIEW OF RULESFOR ACCOUNTING; IASB could adopt rule similar to that of U.K.(International Accounting Standards Board,)(Brief Article)

Pensions & Investments, April, 2002 by Payne, Beatrix

LONDON - Global pensions accounting rules are at a crossroads. The International Accounting Standards Board, London, this year will begin reviewing its rules for pension accounting as part of an attempt to harmonize global rules. The review now has added impetus after the European Union Parliament last month ruled that by 2005, EU companies listed on regulated exchanges will have to publish their finances in line with international accounting standards set by the IASB.

But any company wanting to attract EU investors or do business in the EU would have to follow the IASB rules. And the impact broadens when you take into account the rumblings of harmonization of standards between Europe and the United States. Market sources expect IASB Chairman David...

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