In November 2001, the Association submitted a report to the ASB on proposed amendments to IAS 39 with a view to the arguments put forward by the Association being considered by the ASB during formal submissions to the IASB. The ACT analysis was based on the experience and expertise of both the ACT IAS39 Working Group and respondents from the treasury departments of leading companies presently reporting under IAS, UK and US GAAP.
Peter Brower
Department of Trade and Industry
Company Law and Investigations Directorate (Room 507)
1 Victoria Street
London SWIH 0ET
Tel: 0207 215 0224
Fax: 0207 215 0234
Please find attached the response of The Association of Corporate Treasurers (ACT) to the questions listed in Annex of the above consultative document. Our response does not include a review of Annexes C and D.
EditorialWelcome to the final edition of the year, where we have the usual selection of articles reflecting on some highlights of the year and examining the crystal ball for what lies ahead.
Paul Ebling
The Accounting Standards Board
Holborn Hall
100 Gray's Inn Road
London WC1X 8AL
30 November 2001
Dear Paul
Re: The Association of Corporate Treasurers proposal to the Accounting Standards Board of suggested amendments to IAS39 - Financial Instruments: Recognition and Measurement
In order to respond to the ASB, the ACT technical function established a working group comprising four members of its Technical Committee, two members of the Association together with support from PricewaterhouseCoopers to prepare a draft proposal.
The draft proposal was sent to over 3000 member and non-member institutions reporting under UK GAAP, IAS, Australian GAAP and/or SFAS. We received responses from over 50 institutions, however only 35 of these responses commented on the draft proposal ('the respondents').
