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Financial Instrument Accounting - Speech by Sir Andrew Large to the 13th Central Banking Conference in London
The recent furore over IAS 39 - the international accounting standard for financial instruments - has resulted in a situation which all agree is unsatisfactory, Sir Andrew Large, Deputy Governor of the Bank of England, says today in a speech to a central banking conference in London.
Published on
22 November 2004
There are now effectively two versions of IAS 39, one proposed by the International Accounting Standards Board and the other by the European Commission. Sir Andrew says: "In my view, the only way forward is first to take a few steps back, before work starts on re-engineering the standard."
Press release