ACT/LMA Joint Statement: The Implications for Loan Documentation of the Move to IFRS Accounting

The Loan Market Association ("LMA") and The Association of Corporate Treasurers ("ACT") recognise the challenges faced by their respective members in ensuring a successful transition to IFRS. It is essential that market participants gain an early understanding of the differences between IFRS and the accounting standards currently in place so those areas of their organisation, systems and businesses that need to change can be identified. The LMA and the ACT will continue to monitor whether they can assist in this process.