IAS 39 still unacceptable, says European official
Frits Bolkestein, European commissioner for the internal market, taxation and customs union, said last week that standards for the treatment of derivatives are still not suitable for adoption, despite recent concessions by the International Accounting Standards Board (IASB),Risknews' sister publication, FX Week, reports.
Financial instruments standards IAS 32 and 39 are due for adoption by all listed EU companies in 2005, but the commission fears they will cause excess volatility in financial statements
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