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Davies warns listed companies

Outgoing FSA chairman Howard Davies has used a speech in Glasgow at the Confederation of British Industry to remind listed companies of the need to prepare themselves for the advent of new accounting standards which will begin 1 January 2005. Due to the largely European-led changes, Davies urged companies to “get ahead with their preparations as a matter of urgency”, because they will effect any company whose reporting years include the 2005 date. For some companies, this will apply from 1January 2004.

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The FSA is understood to have concerns about product providers&#39 approaches to risk assessment.It is known to have concerns that many providers are too reactive to risk and should be implementing more proactive approaches to risk assessment such as risk modelling.Financial services consultants the Silent Partner believes providers need to focus on creating a better […]

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