The absence of an industry standard for euro-prepared software by January 1st, 1999, is causing concern among accountants. According to Mr Denis Ryan, president of the Institute of Certified Public Accountants (CPA), there has been "little or no comment" from the software industry about its efforts to develop euro-compliant software for accountancy systems.

Speaking at the launch of EMU - A simple guide to accounting systems issues, a joint production by CPA and AIB, Mr Ryan said: "Research indicates that systems changes for EMU will cost significantly more than the year 2000 problem.

"Yet there has been little or no comment from the software industry on this potential time-bomb."

The brochure is available free of charge from AIB branches throughout the Republic and from the Institute of Certified Public Accountants in Ireland, 9 Ely Place, Dublin 2.