As companies start to produce their first IFRS accounts, the predicted chaors over IAS 32 and 39 may have failed to materialise, but there's still more work to be done
The warnings about the difficulties involved in applying the international accounting standards 32 and 39 on financial instruments were many and dire. So as companies start publishing their first full accounts under international financial reporting standards, were IAS 32 and 39 as stressful as feared?
‘I’m tempted to say “no” because everybody’s expectations were built up so high,’ responds Ken Wild, technical partner at Deloitte. ‘But it was fairly bad.
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