Standard challenges

Energy Risk Annual Awards

For their 2005 accounts – and 2004 accounts, if they so choose – Europeancompanies trading energy will have to complywith a new standard governing accounting forderivative contracts. In light of the problemsUS companies have faced over the equivalentUS rules – Financial Accounting Standard 133(Fas 133 – see box), their Europeancounterparts may have a hard time ahead withInternational Accounting Standard Board’s(IASB’s) IAS 39. However, a trade body set uplast year – the International EnergyAcco

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