...Richard Raeburn The author, chief executive of the Association of Corporate Treasurers, looks ahead at two challenges of 2004 in the continuing arguments over international financial reporting rules on financial instruments, which he believes will create inconsistencies in banking accounts...

..., that regulation is now seen as a risk. Risk management Financial institutions Regulation Banking Financial instruments Corporate Governance Risk management, it is probably fair to say, is now the biggest game in town – or more precisely the city. This is not simply because times happen to be hard...

... the various derivatives accounting standards and proposed standards. The International Accounting Standards Board issued International Accounting Standard 39 “Financial Instruments: Recognition and Measurement” (IAS 39 hereafter), which became effective for annual statements covering financial years...

... the resulting reports will be complex and require well‐trained professional analysis to both understand them and to explain them. Accounting standards Financial reporting Financial instruments Audit committees David Damant I find myself in some difficulty in setting out my remarks, since...