IAS 39: the pressure builds (TT Sept02 p44-47)

The Euro Association of Corporate Treasurers (EACT) was formed in May 2002 to represent the interests of its member treasury associations from across the eurozone and, through those associations, the interests of companies operating treasury activities in Europe. The EACT works closely with other treasury associations, including ourselves and the International Group of Treasury Associations (IGTA).With the implementation deadline of International Accounting Standards (IAS) now looming for companies across Europe, the EACT, with the help of PricewaterhouseCoopers (PwC), surveyed companies across Europe to find out how prepared they are for IAS 39 and FAS 133 conversion. This article provides an overview of those findings, along with commentary on possible lessons for UK companies.