April 25, 2005
Harmonization of Standards between US and EU Possible
Very interesting news from the SEC. First a few weeks ago, an honest openness about working to provide guidance and help to companies small and large on compliance with Section 404, now reaching out to the EU. This is good news. This bodes well for the future of US leadership in financial markets and standards.
An excerpt from an article here:
"U.S., E.C. Eye 'Roadmap' to Convergence
Foreign public issuers that follow international financial reporting standards would not be required to reconcile to U.S. GAAP.
Stephen Taub, CFO.com
April 25, 2005
The United States and Europe are moving much closer toward recognizing each other's accounting rules, which would remove heavy burdens on companies that want to list on exchanges outside their home continent.
William Donaldson, chairman of the Securities and Exchange Commission has discussed a "roadmap" with Charles McCreevy, the European Union Internal Market Commissioner that would eventually permit foreign public issuers not to reconcile to U.S. GAAP, provided that they follow international financial reporting standards, according to the SEC."
For information on how your company can decrease cost and increase effectiveness with your Section 404 compliance, see www.issuescentral.com to learn more about Sarbanes-Oxley Compliance Playbook(tm) or call 800.410.6681 ext 112.
An excerpt from an article here:
"U.S., E.C. Eye 'Roadmap' to Convergence
Foreign public issuers that follow international financial reporting standards would not be required to reconcile to U.S. GAAP.
Stephen Taub, CFO.com
April 25, 2005
The United States and Europe are moving much closer toward recognizing each other's accounting rules, which would remove heavy burdens on companies that want to list on exchanges outside their home continent.
William Donaldson, chairman of the Securities and Exchange Commission has discussed a "roadmap" with Charles McCreevy, the European Union Internal Market Commissioner that would eventually permit foreign public issuers not to reconcile to U.S. GAAP, provided that they follow international financial reporting standards, according to the SEC."
For information on how your company can decrease cost and increase effectiveness with your Section 404 compliance, see www.issuescentral.com to learn more about Sarbanes-Oxley Compliance Playbook(tm) or call 800.410.6681 ext 112.
