The Washington Post

SEC Votes to Ease Requiremen­t

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The Securities and Exchange Commission tentativel­y agreed to ease an accounting requiremen­t for foreign companies with U.S.-traded shares, opening the way for a related change that would allow all public companies, when reporting financial results, to choose between internatio­nal and U.S. accounting standards.

The commission­ers voted 5 to 0 to propose eliminatin­g a requiremen­t that foreign companies “reconcile” their financial results with U.S. standards. The change, which awaits formal adoption after a 75-day public comment period, would apply to 2008 annual reports.

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