New accounting standard setting body in Mexico

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09 Jul 2004

As of 1 June 2004, the Council for Research and Development of Financial Information Standards (Consejo Mexicano para la Investigacion y Desarrollo de Normas de Informacion Financiera, CINIF) took over the responsibility for setting accounting standards in Mexico from the Mexican Institute of Public Accountants (IMCP).

The IMCP's Accounting Principles Commission had been the standard setter since 1968. CINIF is an independent public-private sector partnership. All companies listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) are required to follow CINIF standards. Link to CINIF Website.


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