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On Dec. 12, 2008 the European Union announced: "European Commission Grans Equivalence In Relation to Third Country GAAPs." This decision found U.S GAAP and Japan GAAP 'equivalent' to IFRS for purposes of non-EU based ('foreign') filers with listings in the EU. Additionally, certain other GAAP were found equivalent to IFRS on a transitional basis as those countries converge to IFRS.... more » (FEI members only)
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