"Rapid Response Mechanism" inscribed on the cover
Contains material relating to the ASC secretariat's research into the need and demand for a rapid response mechanism for the ASC similar to that of the Emerging Issues Task Force [EITF] of the American Financial Accounting Standard Board [FASB]. Contains correspondence between the ASC chairman J.M. Renshall and an ASC under-secretary, P.R. Pawson, concerning: the outline for such a system; the position regarding the ASC constitution; and consultation with firms of accountants, finance directors of companies, those involved in the commerce and finance sectors of the economy, and regulatory bodies. Contains a copy of the letter sent to such people and a list of their contact addresses, along with their replies. Contains a Technical Committee [TC] paper on emerging and current issues.