Europe is 'getting impatient' on convergence
May 12, 2010
In his first speech outside of Europe since taking office as European Commissioner for Internal Market and Service, Michel Barnier spoke yesterday in Washington about the United States and Europe jointly building a new financial framework.
He said that Europe is getting impatient regarding convergence of IFRSs and US GAAP:
|And let me also briefly mention the issue of accounting standards. I appreciate that the US authorities have made progress towards convergence. But in the EU, we are getting impatient. Going forward, it is crucial that we converge further.|