More NewsUK’s ACT Offers Cautious Support For FRED 31

UK's ACT Offers Cautious Support For FRED 31

The Association of Corporate Treasurers (ACT) has expressed its support for the principles of Financial Accounting Exposure Draft 31, which governs share-based payments for all kinds of goods and services including employee remuneration. In its comments to the Accounting Standards Board (ASB), the ACT recommended that the approach be extended to bonds convertible into shares. However, the ACT expressed some concern at the potential complexity, particularly for non-listed companies, of calculations to make the required estimates of the valuation of share-based payments. It suggests that consideration be given to transition arrangements, introducing the change first for listed companies in order to give other companies and the wider public more time to become familiar with the proposals.

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