The Investment Management Association has published a press release advising that it has written to the European Commission asking it to defer the adoption of the International Accounting Standards Board's IFRS 8.
Liz Murrall of the IMA stated:
"IMA does not consider that converging requirements for segmental disclosures should be a high priority for the Commission. In adopting IFRS 8, the Commission would be rushing ahead with an unnecessary and imperfect standard. We urge the Commission to take on board our concerns and hold off introducing IFRS 8 until there is more of a consensus about the converged framework."