EU Ministers: Accounting Convergence With U.S. Is ‘Critical’

Government - 2009

EU Ministers: Accounting Convergence With U.S. Is ‘Critical’

http://www.bloomberg.com/apps/news?pid=20601100&sid=aElymhLgAaK4&refer=g...
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European Union ministers said it is “critical” that convergence on accounting standards is reached on the continent to ensure that the region’s banks are not placed at a disadvantage against U.S. competitors. The International Accounting Standards Board, which writes the rules used in Europe, must cooperate with the U.S. Financial Accounting Standards Board, the ministers said in a statement today following a meeting of European finance ministers and central bankers in Prague. A goal is to avoid “competitive distortions,” they said.

Type: News | Also: Globalization, Politics |

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EU Ministers: Accounting Convergence With U.S. Is ‘Critical’

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