Equivalence of national GAAPs and IFRSs

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21 Oct 2004

The Committee of European Securities Regulators (CESR) has published a Concept Paper on Equivalence of Certain Third Country GAAP and on Description of Certain Third Countries' Mechanisms for Enforcement of Financial Information.

CESR developed the paper in response to a request from the European Commission for advice on equivalence of Canadian, Japanese, and United States GAAPs with IFRSs. The EC also asked CESR to describe the mechanisms existing in those countries and others for the enforcement of standards for financial information. The concept paper sets out the basis on which CESR will approach its analysis. Click to (PDF 289k). CESR has requested comments on its concept paper by 22 December 2004.

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