The Ulster Society of Chartered Accountants and the Northern Ireland Euro Preparations Forum have joined forces to issue a booklet which examines the key Euro currency issues for the local business sector.

The booklet, entitled Getting Ready for the Euro, has been produced to help organisations which have still not made adequate preparations to cope with the introduction of Euro notes and coins on January 1, 2002.

From next year electronic and cheque payments made in legacy currencies such as lira, francs, pesetas or deutschmarks will no longer be accepted.

Evidence has suggested that many businesses, particularly a high number of small to medium sized enterprises, have not yet seriously considered the impact of the new currency and could be at a serious disadvantage. The Ulster Society of Chartered Accountants and the Euro Preparations Forum hope that this booklet will be used by those who are unaware of the imminent changeover.

John Hansen, Chairman of the Ulster Society of Chartered Accountants said: “At the end of this year European consumers and businesses will face the biggest monetary change since decimalization with the introduction of the Euro.

“Northern Ireland is in the difficult position of not adopting the Euro but of sharing a land border with a Eurozone country. Chartered Accountants, as valued advisors to the business community, are aware that many businesses will face new trading challenges over the coming months.

“The Ulster Society will also be holding a series of Euro Information Roadshows in Newry, Belfast, Londonderry and Omagh in conjunction with the Euro Preparations Forum and LEDU to remind local companies and Chartered Accountants throughout Northern Ireland of the Issues surrounding the Euro changeover.”

Colm McKenna, Chairman, Northern Ireland Euro Preparations Forum added: “Recent research carried out by the Euro Preparations Forum suggest about three quarters of businesses in Northern Ireland have no strategy in place for dealing with the Euro, and the same percentage have made no preparations for the Euro.

“The Forum considers these findings to be extremely worrying, as the lack of preparation could result in missed opportunities. I know that by working with the Ulster Society of Chartered Accountants to promote the issue and provide information we can help local businesses to make appropriate preparations.”

Getting Ready for the Euro booklets and information about the Euro Roadshows are available from Katie Doran at the Ulster Society of Chartered Accountants on Tel: 028 9032 1600. (MB)