Progress toward IAS in Europe

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09 Jan 2001

Reuters has reported that European Commission Internal Market Commissioner Frits Bolkestein announced that the Commission intends to directly impose International Accounting Standards on listed companies throughout the European Union via regulation, rather than seek new legislation.

Reuters reports that "Bolkestein told the European Parliament's economic and monetary affairs committee the EU executive had now decided to use a legal act which was directly enforceable in the 15 member states rather a 'directive', something which would have needed years to be adopted by the Parliament and EU governments."

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