Schedule 6 - Accounting practice and related matters
Finance Bill
4:30 pm
Dawn Primarolo (Paymaster General, HM Treasury; Bristol South, Labour)
I am grateful for my hon. Friend’s indulgence.
I have responded to the points that hon. Members have made. International accounting standards are a complex and important area, especially as companies move to meet them. Companies will want to move at different speeds to meet those standards and it is important that the regulations, having been fully discussed in draft and consultation, provide for those changes to be made and address the important question of transition when we have a better idea of what is appropriate, how long it should be and how it should work. I hope that the Committee will endorse the schedule.