Full implementation of the directive, however, would not of itself meet all the accounting requirements of credit institutions.

OASYS supports complex pay rules and specialized accounting requirements for organizations with thousands of employees.

Of the tax, Boren said: "As long as the tax is not being collected, the accounting requirements are needless.

To comply with the new accounting requirements, companies would have to find ways to make large contributions to their pension plans.

Mr. Heitz attributed the realization of the losses to more stringent accounting requirements mandated by the 1989 bailout legislation.

There are strict accounting requirements and periodic reporting requirements respecting funds held.

"Since there are no government withholding or reporting requirements on accounts, the burdensome and expensive accounting requirements are reduced for you," the web page said.

(New York and other cities are adding up such obligations in response to a new accounting requirement.)

Mr Tanner adds: 'It needed to include local language support, and recognise local accounting requirements.

What are the accounting requirements?