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New SEC Chairman speaks about IAS

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27 Nov 2001

In his first public remarks about International Accounting Standards, new SEC Chairman Harvey L.

Pitt said (click for PDF 55k:

We are inspired and encouraged by all of the cooperative efforts aimed at crafting high quality international accounting standards. While work remains to be done, we are certainly well on the road toward creating the type of standards in which investors can have confidence. Looking into the future, we also must appreciate that compatible core accounting standards will lose some of their value unless we work together toward consistency among nations in interpretation and application of these standards.

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