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Sarbanes-Oxley News & Developments
EU : New Accounting Rules On the WayThe European Union tightens accounting governance.
> > On the heels of the recent accounting scandals at Parmalat, Adecco and Ahold, European Union internal market commissioner Frits Bolkestein said that Europe urgently needs tighter accounting standards, according. In fact, Bolkestein thinks Parmalat problems could become more egregious than Enron.
"In the light of the Parmalat case, it is imperative that member states envisage the quick implementation of new rules," Bolkestein told reporters after discussing the case with EU finance ministers. In March, the commissioner is expected to trot out new accounting rules, which his office has been putting together since the Enron scandal in 2001.
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Source: CFO
Published:2004-01-22
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