This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

UK will not apply IAS 39 equivalent to unlisted entities

  • United Kingdom Image

25 Apr 2006

The United Kingdom Accounting Standards Board (ASB) has decided not to finalise its proposal to extend the scope of Financial Reporting Standard (FRS) 26 Financial Instruments: Measurement to all entities other than SMEs that apply the Financial Reporting Standard for Smaller Entities (FRSSE).

FRS 26 is essentially equivalent to IAS 39. Currently, FRS 26 applies to all listed entities still following UK standards and a small group of unlisted entities whose financial statements are prepared in accordance with the fair value accounting rules set out in the Companies Act. In April 2005, the ASB had proposed to extend the applicability of FRS 26. Click for (PDF 25k).

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.