Cambridge Antibody Technology

Cambridge Antibody Technology Group plc Period End 30 September 2005

Submitted by Company Reporting on Thu, 2006-02-16 00:00

Cambridge Antibody Technology
Listed
United Kingdom
FRS 21 (IAS 10) 'Events after the balance sheet date'
FRS 26 (IAS 39) 'Financial instruments: recognition and measurement'
IAS 38 'Intangible assets'
IFRS 2005
IFRS 1 'First-time adoption of International Financial Reporting Standards'
IFRS 2 'Share-based payment'
Post balance sheet events
SSAP 17 'Accounting for post balance sheet events'

To adjust or not to adjust
UK health care company Cambridge Antibody Technology accounts for proceeds received from a post balance sheet settlement of litigation as an adjusting event but its auditors have changed their mind and conclude subsequent to publication that under IFRS it is a non-adjusting event.