EU Commissioner praises Basel II

Speaking at the International Corporate Governance Network’s 12th Annual Conference in Cape Town last week, McCreevy said: “Soon we hope that [IFRS standards] will be accepted in every significant financial centre. [We want] one set of accounting rules for those companies that wish to list in the world's best financial markets. Is this not the right mix between competition, efficiency and regulation? Look at Basel II. Principles-based regulation and a risk-based approach are bringing the same

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