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IASB Chairman comments on the next phase

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12 Nov 2004

In an interview published in the Financial Times on 9 November 2004, IASB Chairman Sir David Tweedie warned that the next phase of the Board's standard-setting efforts is likely to be more challenging – and cause more anguish – than the recent debate over IAS 39 in Europe.

As examples of projects that are likely to cause controversy, Sir David cited leasing, insurance, performance reporting, and pensions, all of which he expects the Board to complete over the next three to five years. "There will be blood all over the streets," the FT quotes the Chairman as saying, in reference to the expected reaction of some affected companies.

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