19. Except where this Schedule provides for a different method of recognition, measurement or valuation, whenever a provision in this Schedule refers to an asset, liability, equity or income statement item, an authorised payment institution must, for the purpose of that provision, recognise the asset, liability, equity or income statement item and measure its value in accordance with whichever of the following are applicable for the purpose of the institution’s external financial reporting—
(a)Financial Reporting Standards and Statements of Standard Accounting Practice issued or adopted by the Accounting Standards Board;
(b)Statements of Recommended Practice, issued by industry or sectoral bodies recognised for this purpose by the Accounting Standards Board;
(c)International Financial Reporting Standards and International Accounting Standards issued or adopted by the International Accounting Standards Board;
(d)International Standards on Auditing (United Kingdom and Ireland) issued by the Auditing Practices Board; and
(e)the Companies Act 2006.