At the moment, the way intangibles are valued under IAS 38 Intangible Assets makes it difficult to review their impact on financial statements and the performance of companies. There is also widespread concern that the rules are outdated and do not reflect new types of intangibles, making it increasingly difficult to assess the financial impact.

While there has been a significant increase in the economic value of intangibles over the last 15 years, this increase can only be inferred indirectly as many intangible items are not recognised in national or company accounts, the UK Endorsement Board (UKEB) said.