CESR progresses on GAAP of third countries policy

The Committee of European Securities Regulators (CESR) has published responses to its technical advice on a mechanism for determining the equivalence of the generally accepted accounting principles (GAAP) of third countries (countries that are not part of the OECD or EU but are party to the Basel convention). The response period was shortened significantly because of the CESR’s need to respond to the European Commission, which is now slated for the end of this month. The committee received

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