Paris (July 30, 2003) -- European insurers are urging the International Accounting Standards Board to postpone approval of new accounting rules for the treatment of financial derivatives.

In a statement, director-general of the European Federation of National Insurance Associations Daniel Schante said keeping the rules as they now stand would make insurers' earnings "artificially volatile," Dow Jones reported. He added that insurers haven’t been given enough time to adapt to the new rules.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access