Press Release: Accounting: European Securities Committee votes to grant ‘equivalence’ in relation to third country GAAPs

European Internal Market and Services Commissioner Charlie McCreevy has warmly welcomed the positive opinion of Member States in support of Commission proposals for granting equivalence to the Generally Accepted Accounting Principles (GAAPs) of certain third countries as from next year. The vote, by the European Securities Committee today, follows a favourable resolution of the European Parliament. The proposals will now pass to Parliament and Council for formal opinions and then to the Commission for adoption.