Saturday, July 5, 2008

Feds proposing to allow use of foreign accounting rules in US

Have you seen the article in today's New York Times:

"Accounting Plan Would Allow Use of Foreign Rules"

Published: July 5, 2008

Here are the first two paragraphs:
"WASHINGTON — Federal officials say they are preparing to propose a series of regulatory changes to enhance American competitiveness overseas, attract foreign investment and give American investors a broader selection of foreign stocks.

The regulatory changes are on the agenda of Christopher Cox, chairman of the Securities and Exchange Commission.
But critics say the changes appear to be a last-ditch push by appointees of President Bush to dilute securities rules passed after the collapse of Enron and other large companies — measures that were meant to forestall accounting gimmicks and corrupt practices that led to those corporate failures"

For more information see the article in the NYTimes
retrieved July 5, 2008

See also resources available on the SEC website, especially

and/or consult your friendly librarian for more info

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