Component Accounting Timetable Deferred To 2012

Although the implementation date for component accounting has been pushed back to March 2012, it may be worth looking at adopting it sooner rather than later.

At one point, it looked possible that the new requirements on component accounting would be introduced with immediate effect. It quickly became clear, however, that this would have a substantial detrimental effect for many associations because the preparation time required was simply too great to enable the necessary decisions and collection of data to happen with any degree of robustness. The settled position then emerged that March 2011 would be the first year for compliance. This too has now moved to March 2012 as the scale of the task has become clearer.