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New media rules for reporting on accounting jobs

Friday 25 March 2011 by Gina Le Prevost

People in accounting jobs may soon notice a difference in the way stories about their sector are reported in the press, following the publication of two new exposure drafts.

According to Accountancy Age, the recent release of the drafts by the Accounting Standards Board (ASB) could see "big changes" in the way the results of those in finance jobs are published.

The source predicted it could also "significantly reduce comparability of companies' financial statements".

"It is essential that potentially affected companies review the proposals and comment on the consultation to help shape the ultimate outcome to one that will make sense for business," urged the industry publication.

According to the ASB, the current guidelines on financial reporting are confusing and often lead to varying standards and differing disclosures in various media outlets - and are also well out of date with the way in which much business is now carried out.

The Telegraph recently highlighted the importance of people in finance jobs for aiding customers with big life decisions, such as wills and buying a home.