The commitment of the G-7 finance ministers and central bank governors to apply the recognised principles in their respective countries will necessitate some adjustments in Germany, too, which will give rise to interesting discussions and make particular demands on our fledgling GASC. I am thinking here of the introduction of current value accounting for the trading portfolios of credit institutions.
A further point of conflict arises in the application sphere. Can the information function of the annual accounts be confined to the overall group results? Do the individual accounts remain concerned with dividend assessment and thus with the traditional BIS Review 107/1998  -4-  principle of caution?