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ASB delays disclosure scheme

The Accounting Standards Board will postpone implementing controversial plans aimed at forcing companies to disclose more about their pension schemes, according to the Financial Times.

The board,which will release the final version of its proposals on Thursday, hopes the delay will reassure critics who argue the changes would provoke a negative reaction from investors.

Firms fear the ASB’s plans will lead to greater volatility in accounts as businesses will have to report how pension fund asset values vary with movements in world markets.

ASB chairman Sir David Myers says "To give businesses a chance to accustom themselves to the new information the plans won’t be fully implemented until 2003."

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