New research has shown that many corporate treasurers are uncertain about the relevance and implications of new global accounting standards to their treasury operations.

According to the research, undertaken by IT2 Treasury Solutions, a leading provider of treasury management software to corporate treasuries and financial institutions, just 52% of the responding corporate treasurers reported that they were aware of the content and impact of impending changes in IFRS. In Europe, IFRS 9, the standard for classifying and measuring financial instruments which was released in November 2009, will apply to accounting periods beginning on or after 1 January 2013.

Kevin Grant, CEO of IT2 Treasury Solutions, said: “In less than two years, corporate treasurers will have to respond to the onerous financial reporting requirements of IFRS 9. Within one year, the window of opportunity to take the benefits of early adoption will close. IFRS 9 may still be a work in progress, but its scope and adoption timetable strongly suggest that treasurers should be actively evaluating the requirements of compliance.”