It has also just issued a revised standard on the issue of earnings per share, while the IASC has come up with its first standard in the area. It even currently has somebody on secondment from the Chinese finance ministry.Sharing people is just one of the ways in which the rule-makers are grappling with the complex modern business world There is also co-operation on projects. For instance, FASB has embarked on a joint project with its Canadian counterpart on segment reporting. Even so, the extent to which FASB is still seen as the home of the experts may be shown by the almost weekly visits it hosts from groups from countries as far apart as Malaysia, Poland and China. Canadian and Australian standard-setters, in particular, have made great contributions in recent years, while there is growing interest from the authorities in developing countries and emerging economies. Duing this period the ASB has replaced the UK's much-criticised Accounting Standards Committee, and the International Accounting Standards Committee, under the leadership of the former director-general of fair trading, Sir Bryan Carsberg, is raising its profile and becoming more involved in the debate about future standards and guidelines.Noting that the ASB is - to a certain extent - modelled on his own organisation, Mr Beresford says: "I think when I started we pretty much had the right ideas; we had more developed standards.

Sure, as former academics and senior technical partners with Big Six firms, both men can mix it with lovers of the arcane intricacies of rule- setting when they have to. But their real skills lie in their ability to bring together different factions, and to present complex issues in a way that can be understood even by those not close to the subject. Mr Beresford, whose 10-year term ends in June, does not even seem worried about the fact that his organisation is no longer so obviously the queen bee of the accountancy world as it was when he took over. Expect to pay about pounds 100 an hour, for around three hours of the IFA's time. For details of three IFAs near you, call IFA Promotion on 0117-971 1177, and it is worth asking for a pensions specialist.Abigail Montrose. For a man who spends his days dealing with the technical details of accounting standards, Denny Beresford has a remarkably affable disposition. Like Sir David Tweedie, his counterpart at the Accounting Standards Board, the chairman of the Financial Accounting Standards Board of the United States exudes an easy charm that belies the image of the technical specialist as a dull number-cruncher.

If nearing retirement you may want funds with a low risk, whereas a younger investor may take on more risk in the hope of achieving better rewards.The IFA can be paid either by a fee, or by commission A fee is often cheaper in the long run. Their "appointed representatives" - are just company salesmen. The first thing to remember is that if you talk to a company direct, or see their representative, you will receive advice on what sort of provision you need to make, but you will be told only about that company's products. If your job does not provide a pension scheme, you need to set up your own. Choose that, or a "recurring single premium" pension, where every payment counts as a one-off.Despite all these warnings, you may feel bamboozled by pension company jargon.

A single premium gives the adviser about 4 per cent of everything you pay in - but no more. You may get divorced or lose your job, or have children, or want to increase or cut contributions for a variety of other reasons. Choose a pension that allows you to do all of these things without incurring extra charges.Should you pay single or regular contributions? With regular premiums, the adviser will usually receive up-front commission based on the expected period of contributions This takes a large slice of your first two years' payments. Others take a larger cut of initial payments, calling them "capital" or "initial units" Look for a company with flat- rate charges from year one. Most important, make sure the adviser can explain to your satisfaction how charges are levied.Is the independent adviser (always choose one of them) prepared to cut his or her commission, or accept a fee to sell the product? Aim to pay no more than pounds 300 or so to set up a simple, uncomplicated pension: three or four hours' work.How flexible is the pension? You may work for several different employers, some with occupational pension schemes you should join instead. What they don't tell you is that they sting you heavily up-front, lessening the load only after five or 10 years. Here are some questions to ask a prospective provider. What are the contribution fees? Look for companies that levy little or nothing for each premium, whether monthly or one-off.