Technical Update (TT Jun05 p44-45)

FSA warns on IFRS
The FSA has sent a ‘Dear CEO’ letter to all listed companies to remind them of their obligations to notify a Regulatory Information Service about any price-sensitive information without delay. This is in the context of providing information on the impact on their 2004 financial statements from the move to IFRS accounting and the need for statements that are not misleading – for example, by covering all possible impacts, both positive and negative.