Commission grants equivalence in relation to third country GAAPs

12 December 2008

The Commission granted equivalence to the Generally Accepted Accounting Principles of US, Japan, China, Canada, South Korea and India.

The Commission granted equivalence to the Generally Accepted Accounting Principles of US, Japan, China, Canada, South Korea and India. The Commission will review the situation of some of these countries (China, Canada, South Korea, India) by 2011 at the latest. The Commission will also regularly monitor the ongoing status of equivalence and report to Member States and Parliament where necessary.

 

Foreign companies listed on EU markets will therefore continue to be able to file their financial statements prepared in accordance with those GAAPs.

 

Press release

 

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